Cowabunga System Daily Update: Thursday, 10/03/2013

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Main Trend

Entry

Current Trend

The trend was UP the entire day.

Today I only looked for long trades.

News events to watch for today :

Today’s Surf

4:45am 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 1.6226 with a stop at the m

ost recent swing low at 1.6190. Since I was 24 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6250.

Entry: Long at 1.6226 Stop: 1.6190 Target: 1.6250

8:00am EST – Unfortunately I was stopped out of my trade. (-36 pips)

Trend

Trade Result: -36 pips R-Multiple: -1.00

News events to watch for Friday:

  • None

For a complete list of news events check out our Forex Economic Calendar.

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