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Main Trend

Cowabunga Forex System
Cowabunga Forex System

Current Trend

The trend was DOWN the entire day.

Today I only looked for short trades.

News events to watch for today :

Today’s Surf

4:45am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative.

The entry was at the close of the candle at 1.4166 with a stop at the most recent swing high at 1.4196. Since I was 16 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4150.

Entry: Short at 1.4166 Stop: 1.4196 Target: 1.4150

8:45am EST– My target was hit. Price made a clean break so I moved my stop to 1.4150 and set my next target for 1.4100.

9:15am EST– Unfortunately I got stopped out at my original target at 1.4150. (+16 pips)

Cowabunga Forex System
Cowabunga Forex System


Trade Result: +16 pips R-Multiple: 0.53

News events to watch for Thursday:

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