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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 was positive and losing value. This was a valid entry.

The entry was at the close of the candle at 1.2777 with a stop at the most recent swing high at 1.2785. Since I was 27 pips away from the nearest 50 or 00 level, I decided to place my initial target at 1.2750.

Entry: Short at 1.2777 Stop: 1.2785 Target: 1.2750

2:30am EST– Unfortunately I was stopped out of my trade. (-8 pips)

9:15am EST- Didn’t consider this possible signal because it was before the 10:00am EST news event.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -8 pips R-Multiple: -1.00

News events to watch for Friday:

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