Main Trend
Current Trend
The trend was DOWN until the entire day today.
Today I only looked for short trades.
News events to watch for today:
- 4:30am EST– UK Public Finances
- 9:15am EST- UK Minister Hammond Speaks
Today’s Surf
12:30am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.
The entry was at the close of the candle at 1.2933 with a stop at the most recent swing high at 1.2937. Since I was 33 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2900.
Entry: Short at 1.2933 Stop: 1.2937 Target: 1.2900
4:15am EST– My target wasn’t hit by this time. Since news was coming out at 4:30am EST, I decided to lock in as much profit as I could and exited my trade at 1.2930. (+3 pips)
9:15am EST– Didn’t consider this possible signal because it was during a news event.
11:45am EST– Didn’t consider this possible signal because it was close to 12 noon EST.
Trade Result: +3 Pips R-Multiple: 0.75
News events to watch for Thursday:
- 8:30am EST– US Durable Goods
- 11:00am EST– US Fed Issues Manufacturing Survey For April
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.