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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

12:45am 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 1.3486 with a stop at the most recent swing high at 1.3495. Since I was 36 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3450.

Entry: Short at 1.3486 Stop: 1.3495 Target: 1.3450

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

3:30am EST– Didn’t consider this possible signal because news was coming out at 4:30am EST.

4:45am 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 1.3490 with a stop at the most recent swing high at 1.3512. Since I was 40 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3450.

Entry: Short at 1.3490 Stop: 1.3512 Target: 1.3450

8:15am EST– Unfortunately my trade wasn’t hit by this time. Since news was coming out at 8:30am EST, I decided to cut my trade short and manually exit. I got out at 1.3491. (-1 pip)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -9 -1= -10 pips R-Multiple: -1.00; -0.04

News events to watch for Friday:

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