Cowabunga System Daily Update: Wednesday, 10/07/2015

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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

10:45am 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 1.5311 with a stop at the most recent swing low at 1.5282. Since I was 39 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5350.

Entry: Long at 1.5311 Stop: 1.5282 Target: 1.5350

11:45am EST– Unfortunately my target wasn’t hit by this time. Since it was 12:00 noon EST, I decided to go ahead and manually exit my trade. I got out at 1.5319. (+8 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: +8 pips R-Multiple: 0.27

News events to watch for Thursday:

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