Cowabunga System Daily Update: Tuesday, 01/27/2015

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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

1:45am 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 1.5106 with a stop at the most recent swing low at 1.5088. Since I was 44 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5150.

Entry: Long at 1.5106 Stop: 1.5088 Target: 1.5150

2:15am EST– Unfortunately I was stopped out of my trade. (-18 pips)

3:45am EST– No entry here because it was right before a news event.

7:00am 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 1.5105 with a stop at the most recent swing low at 1.5058. Since I was 45 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5150.

Entry: Long at 1.5105 Stop: 1.5058 Target: 1.5150

8:15am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 8:30am EST, I decided to manually exit my trade. I got out at 1.5140. (+35 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: -18 +35= +17 pips R-Multiple: -1.00; 0.74

News events to watch for Wednesday:

  • None

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