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Cowabunga Forex System
Cowabunga Forex System

Current Trend

The trend was UP the entire day today which means  I only looked for long trades.

News Events to Watch Out For Today

Today’s Surf

3:15am 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 1.2522 with a stop at the most recent swing low at 1.2490. Since I was 28 pips away from the nearest 50 or 00 level, I decided to place my initial target at 1.2550.

  • Entry: Long at 1.2522
  • Stop: 1.2490
  • Target: 1.2550

4:15am EST

My target was hit. Price made a clean break so I moved my stop to 1.2550 and set my next target for 1.2600.

7:15am EST

My 2nd target was hit. This time price did not make a clean break so I took my final profit. I got out at 1.2602. (+80 pips)

10:00am 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 1.2593 with a stop at the most recent swing low at 1.2548.

Since I was only 7 pips away from the nearest 50 or 00 level (1.2600), I decided to go for the same amount of pips I was risking on the trade, which in this case was 45.

This put my initial target at 1.2638.

  • Entry: Long at 1.2593
  • Stop: 1.2548
  • Target: 1.2638

11:45am EST

Unfortunately my target wasn’t hit by this time. Since 12 noon EST marks the end of our session, I decided to manually exit my trade. I got out at 1.2616. (+23 pips)

Cowabunga Forex System
Cowabunga Forex System