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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:

  • None

Today’s Surf

12:30am 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 1.2502 with a stop at the most recent swing low at 1.2493. Since I was 48 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.2550.

Entry: Long at 1.2502 Stop: 1.2493 Target: 1.2550

1:45am EST– Unfortunately I was stopped out of my trade. (-9 pips)

2:15am 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 1.2505 with a stop at the most recent swing low at 1.2492. Since I was 45 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.2550.

Entry: Long at 1.2505 Stop: 1.2492 Target: 1.2550

2:45am EST– Unfortunately I was stopped out of my trade. (-13 pips)

3:30am 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 1.2507 with a stop at the most recent swing low at 1.2474. Since I was 43 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.2550.

Entry: Long at 1.2507 Stop: 1.2474 Target: 1.2550

10:45am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.2545. (+38 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -9 -13 +38= +16 pips R-Multiple: -1.00; -1.00; 1.15

News events to watch for Thursday:

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