Cowabunga System Daily Update: Wednesday, 08/26/2015

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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 :

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 went from positive to negative. This was a valid entry.

The entry was at the close of the candle at 1.5696 with a stop at the most recent swing high at 1.5719. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5650.

Entry: Short at 1.5696 Stop: 1.5719 Target: 1.5650

4:15am EST– My target wasn’t hit by this time. Since news was coming out at 4:30am EST, I decided to manually exit my trade. I got out at 1.5674. (+22 pips)

Cowabunga Forex System

Cowabunga Forex System

Trade Result: +22 pips R-Multiple: 0.95

News events to watch for Thursday:

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