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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

2:45am 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 1.3979 with a stop at the most recent swing high at 1.4000. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3950.

Entry: Short at 1.3979 Stop: 1.4000 Target: 1.3950

3:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I got out at 1.3952. (+27 pips)

11:30am EST– Didn’t consider this possible signal because it was right before 12 noon EST.

Cowabunga Forex System
Cowabunga Forex System


Trade Result: +27 pips R-Multiple: 1.28

News events to watch for Thursday:

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