Main Trend
Current Trend
The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today:
- 4:30am EST– UK BOE Mortgage Approvals
- 5:45am EST– UK BOE Gerken Speaks
- 8:15am EST– US ADP Employment Report
- 8:30am EST– US GDP
- 9:15am EST– US Fed Powell Speaks
Today’s Surf
4:00am EST- Didn’t consider this possible signal because it was before the 4:30am EST news event.
5:30am EST- Didn’t consider this possible signal because it was before the 5:45am EST news event.
10:00am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive. This was a valid entry.
The entry was at the close of the candle at 1.2918 with a stop at the most recent swing low at 1.2877. Since I was 32 pips away from the nearest 50 or 00 level, I decided to place my initial target at 1.2950.
Entry: Long at 1.2918 Stop: 1.2877 Target: 1.2950
11:45am EST– Unfortunately my target wasn’t hit by this time. Since noon was approaching I decided to manually exited my trade. I got out at 1.2933. (+15 pips)
Trade Result: +15 pips R-Multiple: 0.36
News events to watch for Thursday:
- 8:30am EST– US Core PCE Price Index
- 9:45am EST– US Chicago PMI
- 10:00am EST– US Pending Home Sales
- 11:30am EST– US Fed Kaplan Speaks
For a complete list of news events check out our Forex Economic Calendar.
Questions? Read the Cowabunga FAQ.Want to discuss the Cowabunga System? Visit our Forex Forums.
