Cowabunga System Daily Update: Tuesday, 08/25/2015

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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

2:30am 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 1.5775 with a stop at the most recent swing low at 1.5767. Since I was 25 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5800.

Entry: Long at 1.5775 Stop: 1.5767 Target: 1.5800

5:30am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.5798. (+23 pips)

Cowabunga Forex System

Cowabunga Forex System

Trade Result: +23 pips R-Multiple: 2.87

News events to watch for Wednesday:

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

    Great R/R Surfer. Do you track your results when you have a better R/R going into the trade? Sometimes your trades are 1/1 or worse and I wonder if your pip gaining expectancy is better on the trades with better R/R going in.