Cowabunga System Daily Update: Thursday, 03/03/2016

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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

2:30am EST– There was a moving average crossover for a long trade. RSI was greater than 50, MACD went from negative to positive, but stochastics were still trending down. This cancelled out the signal and I did not enter.

5:15am EST– There was a moving average crossover for a long trade. Stochastics were trending down, MACD was negative and gaining value, but RSI was below 50. This cancelled out the signal and I did not enter.

7:30am EST– Didn’t consider this possible signal because it was close to the 8:30am EST news.

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: +0 pips R-Multiple: N/A

News events to watch for Friday:

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

    Can you just clarify on the 4hr time frame when looking for the trend, are you just going by the EMA crossovers or are you including Stochastic and RSI, because on my 4hr timezone it shows Stochs and RSI as overbought and oversold at point of crossovers ?

    It is also similar in the 15minute time-frame as well, crossover to downside and stochastic already in oversold territory ?

    Thanks