Cowabunga System Daily Update: Tuesday, 05/26/2015

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 DOWN the entire day.

Today I only looked for short trades.

News events to watch for today :

Today’s Surf

1:00am 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 1.5544 with a stop at the most recent swing high at 1.5456. Since I was 44 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5400.

Entry: Short at 1.5544 Stop: 1.5456 Target: 1.5400

3:00am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.5403. (+41 pips)

8:00am EST– Didn’t consider this possible signal because it was right before the 8:30am EST news..

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: -+41 pips R-Multiple: 3.41

News events to watch for Wednesday:

  • None

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.

  • Hi,
    I like your system and I was wondering if you have your online trading tracker (like those available on the Forex Factory?).
    Thank you for your time,

    David