Cowabunga System Daily Update: Thursday, 04/25/2013

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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

2:00am 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 signal. I entered at the close of the candle at 1.5322 with a stop at the most recent swing low at 1.5307. Since I was 23 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5350.

Entry: Long at 1.5322; Stop: 1.5307; Target: 1.5350

2:45am EST- Unfortunately I was stopped out of my trade. (-15 pips)

4:30am EST– Didn’t enter because it was a news candle.

entry2

Trade Result: -15 pips R-Multiple: -1.00

News events to watch for Friday:

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