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

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

3:15am 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 1.5032 with a stop at the most recent swing high at 1.5060. Since I was 32 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5000.

Entry: Short at 1.5032 Stop: 1.5060 Target: 1.5000

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 and take my profits. I exited out at 1.5005. (+27 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: +27 pips R-Multiple: 0.96

News events to watch for Wednesday:

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.