Partner Center Find a Broker

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

1:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.

The entry was at the close of the candle at 1.2981 with a stop at the most recent swing high at 1.2990. Since I was 31 pips away from the nearest 50 or 00 level, I decided to place my initial target at 1.2950.

Entry: Short at 1.2981 Stop: 1.2990 Target: 1.2950

2:00am EST– Unfortunately I was stopped out of my trade. (-9 pips)

4:45am 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 1.2998 with a stop at the most recent swing high at 1.3027. Since I was 48 pips away from the nearest 50 or 00 level, I decided to place my initial target at 1.2950.

Entry: Short at 1.2998 Stop: 1.3027 Target: 1.2950

8:15am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 8:30am EST, I decided to manually exit my trade. I got out at 1.2980. (+18 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -9 +18 pips R-Multiple: -1.00; 0.62

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.