If this is your first time visiting this blog, read this first! 

Main Trend

Current Trend= The trend remained up the entire day

Today I only looked for long trades

News events to watch for today :

• 8:30am EST- US Unemployment Claims
• 10:00am EST- US Philadelphia Fed Index

Today's Surf

1:00am EST- There was almost a signal here but MACD was already positive. This cancelled out the signal and I did not enter.

3:30am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 1.9729 with a stop at the most recent swing low at 1.9690. Since I was 21 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9750.

Entry: Long at 1.9729
Stop: 1.9690
Initial Target: 1.9750

4:45am EST- My target was hit. Price did not make a clean break of my target so I took my final profit. I exited at 1.9748.

Trade Result: +19 pips : R-Multiple: 0.48

News events to watch for tomorrow :

• None

Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forums.