Cowabunga System Daily Update: Tuesday, 02/24/2015

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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

1:30am 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 1.5452 with a stop at the most recent swing low at 1.5431. Since I was 48 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5500.

Entry: Long at 1.5452 Stop: 1.5431 Target: 1.5500

8:00am EST– Unfortunately I was stopped out of my trade. (-21 pips)

10:30am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive from the previous candle. This cancelled out my signal and I did not enter.

Cowabunga Forex System

Cowabunga Forex System

 

 

Trade Result: -21 pips R-Multiple: -1.00

News events to watch for Wednesday:

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