Cowabunga System Daily Update: Wednesday, 03/30/2016

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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

1:00am 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.

The entry was at the close of the candle at 1.4378 with a stop at the most recent swing low at 1.4369. Since I was 22 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4400.

Entry: Long at 1.4378 Stop: 1.4369 Target: 1.4400

2:00am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4398. (+20 pips)

7:15am 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.

The entry was at the close of the candle at 1.4411 with a stop at the most recent swing low at 1.4378. Since I was 39 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4450.

Entry: Long at 1.4411 Stop: 1.4378 Target: 1.4450

8:00am EST– My target wasn’t hit by this time. Since news was coming out at 8:15am EST, I decided to manually exit my trade. I got out at 1.4420. (+9 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: +20 +9= +29 pips R-Multiple: 2.22; 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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