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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

2:00am 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 1.2966 with a stop at the most recent swing high at 1.2977. Since I was 16 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2950.

Entry: Short at 1.2966 Stop: 1.2977 Target: 1.2950

3:15am EST– Unfortunately I was stopped out of my trade. (-11 pips)

6:00am 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 1.2971 with a stop at the most recent swing high at 1.2998. Since I was 21 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2950.

Entry: Short at 1.2971 Stop: 1.2998 Target: 1.2950

8:45am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 9:00am EST, I decided to manually exit my trade. I got out at 1.2961. (+10 pips)

Cowabunga Forex System
Cowabunga Forex System

Trade Result: -11 +10= -1 pip R-Multiple: -1.00; 0.37

News events to watch for Thursday:

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