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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

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 1.2576 with a stop at the most recent swing low at 1.2537. Since I was 24 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.2600.

Entry: Long at 1.2576 Stop: 1.2537 Target: 1.2600

8:15am EST– My target wasn’t hit by that time. Since news was coming out at 8:30am EST I decided to manually exit my trade. I got out at 1.2560. (-16 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -16 pips R-Multiple: -0.41

News events to watch for Wednesday:

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