Cowabunga System Daily Update: Thursday, 12/10/2015

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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

2:15am 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 1.5181 with a stop at the most recent swing low at 1.5170. Since I was 19 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5200.

Entry: Long at 1.5181 Stop: 1.5170 Target: 1.5200

3:15am EST– Unfortunately I was stopped out of my trade. (-11 pips)

4:15am EST– Didn’t consider this possible signal because it was right before a news candle.

9:15am 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 1.5169 with a stop at the most recent swing low at 1.5110. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.5200.

Entry: Long at 1.5169 Stop: 1.5110 Target: 1.5200

3:15am EST– Unfortunately my target wasn’t hit by this time. Since it was already 12 noon EST, I decided to manually exit my trade. I got out at 1.5179. (+10 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: -11 +10= -1 pip R-Multiple: -1.00; 0.16

News events to watch for Friday:

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