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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

10:30am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.

The entry was at the close of the candle at 1.2151 with a stop at the most recent swing high at 1.2177. Since I was only 1 pip away from the nearest 50 or 00 level (1.2150), I decided to go for the same amount of pips I was risking on the trade, which in this case was 26. This put my initial target at 1.2125.

Entry: Short at 1.2151 Stop: 1.2177 Target: 1.2125

10:45am EST– Unfortunately I was stopped out of my trade. (-26 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -26 pips R-Multiple: -1.00

News events to watch for Wednesday:

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