Cowabunga System Daily Update: Wednesday, 08/12/2015

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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

1:00am 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 1.5569 with a stop at the most recent swing low at 1.5545. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5600.

Entry: Long at 1.5569 Stop: 1.5545 Target: 1.5600

3:45am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.5598. (+29 pips)

6:30am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was a valid entry.

The entry was at the close of the candle at 1.5586 with a stop at the most recent swing low at 1.5536. Since I was 14 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5600.

Entry: Long at 1.5586 Stop: 1.5536 Target: 1.5600

7:15am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.5599. (+13 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: +29 +13= +42 pips R-Multiple: 1.20; 0.26

News events to watch for Thursday:

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

    nice 1