Cowabunga System Daily Update: Wednesday, 01/07/2015

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Main Trend

Cowabunga Forex System

Cowabunga Forex System

 

Current Trend

The trend was DOWN the entire day.

Today I only looked for short trades.

News events to watch for today :

Today’s Surf

3:30am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.

The entry was at the close of the candle at 1.5134 with a stop at the most recent swing high at 1.5154. Since I was 34 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5100.

Entry: Short at 1.5134 Stop: 1.5154 Target: 1.5100

8:00am EST– My target wasn’t hit by this time. Since news was coming out at 8:15am EST, I decided to manually exit my trade. I got out at 1.5117. (+17 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: +17 pips R-Multiple: 0.85

News events to watch for Thursday:

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

    Good boy …….. Posting daily 🙂