Main Trend
Current Trend
The trend was UP until the entire day today.
Today I only looked for long trades.
News events to watch for today:
- 4:30am EST– UK Claimant Count Change
- 8:30am EST– US Fed Issues Non Manufacturing Business Outlook
- 10:00am EST– US Existing Home Sales
Today’s Surf
1:30am 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 1.2955 with a stop at the most recent swing low at 1.2941. Since I was 45 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3000.
Entry: Long at 1.2955 Stop: 1.2941 Target: 1.3000
4:15am EST– My target wasn’t hit by this time. Since news was coming out at 4:30am EST, I decided to take my profits and manually close my trade. I got out at 1.2990. (+35 pips)
Trade Result: +35 pips R-Multiple: 2.50
News events to watch for Thursday:
- 5:00am EST- UK BOE Carney Speaks
- 8:30am EST- US Unemployment Claims
- 10:00am EST- UK BOE Carney 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.