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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:

Today’s Surf

4:00am EST- Didn’t consider this possible signal because it was before the 4:30am EST news event.

5:30am EST- Didn’t consider this possible signal because it was before the 5:45am EST news event.

10:00am 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 1.2918 with a stop at the most recent swing low at 1.2877. Since I was 32 pips away from the nearest 50 or 00 level, I decided to place my initial target at 1.2950.

Entry: Long at 1.2918 Stop: 1.2877 Target: 1.2950

11:45am EST– Unfortunately my target wasn’t hit by this time. Since noon was approaching I decided to manually exited my trade. I got out at 1.2933. (+15 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: +15 pips R-Multiple: 0.36

News events to watch for Thursday:

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