Cowabunga System Daily Update: Tuesday, 09/27/11

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Main Trend

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

6:45am 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 1.5571 with a stop at the most recent low at 1.5525. Since I was 29 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5600.

Entry: Long at 1.5571 Stop: 1.5525 Target: 1.5600

7:15am EST- My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.5600. (+29 pips)

entry2

Trade Result: +29 pips R-Multiple: 0.63

News events to watch for Wednesday:

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

    can i ask are you a scalper you could have ridden that further