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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. This was a valid entry.

The entry was at the close of the candle at 1.3431 with a stop at the most recent swing low at 1.3420. Since I was 19 pips away from the nearest 50 or 00 level, I put my initial target at 1.3450.

Entry: Long at 1.3431 Stop: 1.3420 Target: 1.3450

3:15am EST– My target was hit. Price made a clean break so I moved my stop to 1.3450 and set my next target for 1.3500.

11:15am EST– Didn’t consider this possible signal because it was close to 12 noon EST.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: +19 pips R-Multiple: 1.72

News events to watch for Friday:

  • None

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