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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

3:00am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was a valid entry.

The entry was at the close of the candle at 1.3431 with a stop at the most recent swing low at 1.3415. Since I was 19 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3450.

Entry: Long at 1.3431 Stop: 1.3415 Target: 1.3450

4:15am EST– My target was hit. Since news was coming out at 4:30am EST, I went ahead and took my final profit. I got out at 1.3452. (+21 pips)

5:45am EST– There was a moving average crossover for a long trade. RSI was greater than 50, MACD was negative and gaining value, but stochastics were still trending down. This cancelled out the signal and I did not enter.

11:00am EST– Didn’t consider this possible signal because it was close to 12 noon EST.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: +21 pips R-Multiple: 1.31

News events to watch for Friday:

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