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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

2:15am 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 1.3200 with a stop at the most recent swing low at 1.3184. Since I was 50 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3250.

Entry: Long at 1.3200 Stop: 1.3184 Target: 1.3250

3:00am EST– Unfortunately I was stopped out of my trade. (-16 pips)

3:45am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.

8:30am 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 1.3204 with a stop at the most recent swing low at 1.3179. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3250.

Entry: Long at 1.3204 Stop: 1.3179 Target: 1.3250

10:45am EST– Unfortunately I was stopped out of my trade. (-25 pips)

11:30am EST– Didn’t consider this possible signal because it was too close to 12 noon EST.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -16 -25= -41 pips R-Multiple: -1.00; -1.00

News events to watch for Thursday:

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