Cowabunga System Daily Update: Wednesday, 06/27/2012

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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

6:00am 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 1.5625 with a stop at the most recent swing low at 1.5609. Since I was 25 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5650.

Entry: Long at 1.5625 Stop: 1.5609 Target: 1.5650

8:00am EST- Unfortunately I was stopped out of my trade. (-16 pips)

entry2

Trade Result: -16 pips R-Multiple: -1.00

News events to watch for Thursday:

For a complete list of news events check out our Forex Economic Calendar.
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  • William C Willis

    I am a new trader and I am going to follow your system for awhile. It makes a lot more sense than what I have been doing. I wish us both luck and happy piping.