Partner Center Find a Broker


ATTENTION: If this is your first time visiting this blog, read this first!

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

1:45am 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 1.2487 with a stop at the most recent swing low at 1.2478. Since I was 13 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.2500.

Entry: Long at 1.2487 Stop: 1.2478 Target: 1.2500

4:15am EST– My target was hit. Since news was coming out at 4:30am EST, I decided to take my profits and exit my trade. I got out at 1.2498. (+11 pips)

7:30am 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 1.2497 with a stop at the most recent swing low at 1.2479. Since I was only 3 pips away I decided to go for the same amount of pips I was risking on the trade, which in this case was 18. This put my initial target at 1.2515.

Entry: Long at 1.2497 Stop: 1.2479 Target: 1.2515

10:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I got out at 1.2513. (+16 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: +11 +16= +27 pips R-Multiple: 1.22; 0.88

News events to watch for Thursday:

For a complete list of news events check out our Forex Economic Calendar.
Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forex Forums.