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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

1:30am 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 1.3408 with a stop at the most recent swing low at 1.3397. Since I was 42 pips away from the nearest 50 or 00 level, I put my initial target at 1.3450.

Entry: Long at 1.3408 Stop: 1.3397 Target: 1.3450

8:15am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 8:30am EST, I decided to manually exit my trade. I got out at 1.3420. (+12 pips)

9:15am 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. This was a valid entry.

The entry was at the close of the candle at 1.3427 with a stop at the most recent swing low at 1.3412. Since I was 23 pips away from the nearest 50 or 00 level, I put my initial target at 1.3450.

Entry: Long at 1.3427 Stop: 1.3412 Target: 1.3450

11:45am EST– Unfortunately my target wasn’t hit by this time. Since 12 noon EST was approaching, I manually exited my trade. I got out pretty much at breakeven at 1.3430. (+3 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: +12 +3= +15 pips R-Multiple: 1.09; 0.20

News events to watch for Thursday:

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