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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 went from negative to positive. This was a valid entry.

The entry was at the close of the candle at 1.2675 with a stop at the most recent swing low at 1.2663. Since I was 25 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2700.

Entry: Long at 1.2675 Stop: 1.2663 Target: 1.2700

2:30am EST– Unfortunately I was stopped out of my trade. (-12 pips)

3:00am 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. This was a valid entry.

The entry was at the close of the candle at 1.2675 with a stop at the most recent swing low at 1.2659. Since I was 25 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2700.

Entry: Long at 1.2675 Stop: 1.2659 Target: 1.2700

4:15am EST– My target was hit. News was coming out at 4:30am EST and I was going to close my trade regardless. I decided to grab as many pips as I could and exited at 1.2704. (+29 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -12 +29= +17 pips R-Multiple: -1.00; 1.81

News events to watch for Wednesday:

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