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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

2:15am 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. This was a valid entry.

The entry was at the close of the candle at 1.2193 with a stop at the most recent swing high at 1.2207. Since I was 43 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.2150.

Entry: Short at 1.2193 Stop: 1.2207 Target: 1.2150

5:45am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.2252. (+41 pips)

10:00am EST– Didn’t consider this possible signal because it was on a news candle.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: +41 pips R-Multiple: 2.92

News events to watch for Thursday:

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