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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:

  • None

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 1.3248 with a stop at the most recent swing high at 1.3257. Since I was 48 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.

Entry: Short at 1.3248 Stop: 1.3257 Target: 1.3200

2:15am EST– Unfortunately I was stopped out of my trade. (-9 pips)

4:30am 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 1.3248 with a stop at the most recent swing high at 1.3287. Since I was 48 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.

Entry: Short at 1.3248 Stop: 1.3287 Target: 1.3200

11:45am EST– Unfortunately my target wasn’t hit by this time. Since it was approaching 12 noon EST, I decided to manually exit my trade. I got out at right at breakeven at 1.3248.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -9 +0= -9 pips R-Multiple: -1.00

News events to watch for Wednesday:

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