Cowabunga System Daily Update: Wednesday, 02/11/2015

If this is your first time visiting this blog, read this first!

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 :

  • None

Today’s Surf

2:45am 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 1.5254 with a stop at the most recent swing low at 1.5234. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5300.

Entry: Long at 1.5254 Stop: 1.5234 Target: 1.5300

5:45am EST– My target was hit. Price did not make a clean break so I took my final profit. I got out at 1.5297. (+43 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: +43 pips R-Multiple: 2.15

News events to watch for Thursday:

For a complete list of news events check out our Forex Economic Calendar.
Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forex Forums.