Cowabunga System Daily Update: Tuesday, 04/28/2015

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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

5:30am 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 1.5246 with a stop at the most recent swing low at 1.5173. Since I was only 4 pips away from the nearest 50 or 00 level (1.5250), I decided to go for the same amount of pips I was risking on the trade, which in this case was 73. This put my initial target at 1.5319

Entry: Short at 1.4883 Stop: 1.4896 Target: 1.4850

8:45am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 9am EST, I decided to close out my trade. I got out at 1.5280. (+37 pips)

Cowabunga Forex System

Cowabunga Forex System

Trade Result: +37 pips R-Multiple: 0.86

News events to watch for Wednesday:

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