Cowabunga System Daily Update: Wednesday, 12/10/2014

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Main Trend

Cowabunga Forex System

Cowabunga Forex System

 

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

6:30am 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 1.5680 with a stop at the most recent swing low at 1.5646. Since I was 20 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5700.

Entry: Long at 1.5680 Stop: 1.5646 Target: 1.5700

8:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I got out at 1.5699. (+19 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: +19 pips R-Multiple: 0.55

News events to watch for Thursday:

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