Cowabunga System Daily Update: Tuesday, 04/14/2015

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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

3:15am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry.

The entry was at the close of the candle at 1.4655 with a stop at the most recent swing high at 1.4680. Since I was only 5 pips away from the nearest 50 or 00 level ( 1.4650), I decided to go for the same amount of pips I was risking on the trade, which in this case was 25. This put my target at 1.4630.

Entry: Short at 1.4655 Stop: 1.4680 Target: 1.4630

4:15am EST– My target was hit. Since news was coming out at 4:30am EST, I decided to close out my trade. I got out at 1.4632. (+23 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: +23 pips R-Multiple: 0.92

News events to watch for Wednesday:

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