Cowabunga System Daily Update: Thursday, 04/28/2016

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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

8:00am EST– Didn’t consider this possible signal because it was right before the 8:30am EST news event.

10:45am 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 1.4569 with a stop at the most recent swing low at 1.4540. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4600.

Entry: Long at 1.4569 Stop: 1.4540 Target: 1.4600

11:45am EST– Unfortunately my target wasn’t hit by this time. Since it was close to 12pm EST, I decided to close out my trade. I got out at 1.4591. (+22 pips)

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: +22 pips R-Multiple: 0.75

News events to watch for Friday:

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