The trend was UP the entire day.
Today I only looked for long trades.
News events to watch for today :- 10:00am EST- US IBD Consumer Optimism
2:15am 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 1.5815 with a stop at the most recent swing low at 1.5791. Since I was 35 pips away from the nearest 50 or 00 level I put my initial target at 1.5850.
Entry: Long at 1.5815 Stop: 1.5791 Target: 1.5850
7:15am EST- Unfortunately I was stopped out of my trade. (-24 pips)
8:45am 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 1.5825 with a stop at the most recent swing low at 1.5786. Since I was 25 pips away from the nearest 50 or 00 level I put my initial target at 1.5850.
Entry: Long at 1.5825 Stop: 1.5786 Target: 1.5850
9:45am EST- Unfortunately my target wasn't hit by this time. Since news was coming out at 10:00am EST, I decided to manually exit my trade. I closed out at 1.5830. (+5 pips)
Trade Result: -24 +5= -19 pips R-Multiple: -1.00; 0.12
News events to watch for Wednesday:- None
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.
Leave A Comment
Please sign in to comment.