Cowabunga System Daily Update: Tuesday, 04/26/2016

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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

12:45am 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 1.4501 with a stop at the most recent swing low at 1.4484. Since I was 49 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4550.

Entry: Long at 1.4501 Stop: 1.4484 Target: 1.4550

1:00am EST– Unfortunately I got stopped out of my trade. (-17 pips)

2:00am 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 1.4504 with a stop at the most recent swing low at 1.4486. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4550.

Entry: Long at 1.4504 Stop: 1.4486 Target: 1.4550

2:30am EST– Unfortunately I got stopped out of my trade. (-18 pips)

3:00am 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

The entry was at the close of the candle at 1.4508 with a stop at the most recent swing low at 1.4484. Since I was 42 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4550.

Entry: Long at 1.4508 Stop: 1.4484 Target: 1.4550

4:15am EST– My target was hit. Since news was coming out at 4:30am EST, I wanted to just grab as many pips as possible. I got out at 1.4551. (+43 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: -17 -18 +43= +8 pips R-Multiple: -1.00; -1.00; 1.79

News events to watch for Wednesday:

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