Cowabunga System Daily Update: Thursday, 08/18/2016

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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

1:45am 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. This was a valid entry.

The entry was at the close of the candle at 1.3060 with a stop at the most recent swing low at 1.3043. Since I was 40 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3100.

Entry: Long at 1.3060 Stop: 1.3043 Target: 1.3100

4:15am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 4:30am EST, I decided to manually exit my trade. I got out at 1.3087. (+27 pips)

11:00am EST– Didn’t take this possible signal because it was close to 12pm noon EST.

Cowabunga Forex System

Cowabunga Forex System

 

Trade Result: +27 pips R-Multiple: 1.58

News events to watch for Friday:

  • None

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