Cowabunga System Daily Update: Tuesday, 04/21/2015

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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 :

  • None

Today’s Surf

1:30am 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 1.4883 with a stop at the most recent swing high at 1.4896. Since I was 33 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4850.

Entry: Short at 1.4883 Stop: 1.4896 Target: 1.4850

8:15am EST– Unfortunately I was stopped out of my trade. (-13 pips)

9:15am 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 1.4874 with a stop at the most recent swing high at 1.4910. Since I was 24 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4850.

Entry: Short at 1.4874 Stop: 1.4910 Target: 1.4850

10:30am EST– Unfortunately I was stopped out of my trade. (-36 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: -13 -36= -49 pips R-Multiple: -1.00; -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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