Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
3:45 am ET – 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 which was at 9422 with a stop at the most recent swing low which was 9404. Since I was 28 pips away from the nearest 50 level I decided to set my target for 9450.
4:30 am ET- My target was hit at 9450. There was no significant break of this level so I took my final profit rather than trailing my stop.
Trade Result: +28 pips; R-Multiple= 1.55
It’s getting pretty gnarly again as we’re catching a good winning streak with today as the 4th consecutive win for the Cowabunga system. We are still slightly negative for the month but I’m still stoked considering how choppy the GBP/USD has been this month. Hopefully we can continue this righteous win streak and finish the month positive.