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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

12:45am 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 1.2949 with a stop at the most recent swing low at 1.2940. Since I was only 1 pip away from the nearest 50 or 00 level, I go for the same amount of pips I was risking on the trade which in this case was 9 pips. This put my initial target at 1.2959.

Entry: Long at 1.2949 Stop: 1.2940 Target: 1.2959

2:00am EST– My target was hit. Price made a didn’t make a clean break so I took my final profit. I got out at 1.2958 (+8 pips)

8:00am 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 1.2955 with a stop at the most recent swing low at 1.2945. Since I was 45 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3000.

Entry: Long at 1.2955 Stop: 1.2945 Target: 1.3000

9:30am EST– Unfortunately I was stopped out of my trade. (-10 pips)

Cowabunga Forex System
Cowabunga Forex System

Trade Result: +8 -10= -2 pips R-Multiple: 0.88; -1.00

News events to watch for Thursday:

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