Cowabunga System Daily Update: Wednesday, 03/02/2016

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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

5:45am EST– There was a moving average crossover for a long forex 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 1.3970 with a stop at the most recent swing low at 1.3913. Since I was 30 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4000

Entry: Long at 1.3970 Stop: 1.3913 Target: 1.4000

6:45am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out right at 1.4000 (+30 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: +30 pips R-Multiple: 0.52

News events to watch for Thursday:

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