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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

2:00am 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 1.3523 with a stop at the most recent swing low at 1.3509. Since I was 27 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3550.

Entry: Long at 1.3523 Stop: 1.3509 Target: 1.3550

4:15am EST– My target wasn’t hit by this time. Since news was coming out at 4:30am EST, I decided to manually exit my trade. I got out at 1.3530. (+7 pips)

9:30am EST– Didn’t consider this possible signal because news was coming out at 10:00am EST.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: +7 pips R-Multiple: 0.50

News events to watch for Thursday:

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