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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

1:30am 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 1.3904 with a stop at the most recent swing low at 1.3880. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3950.

Entry: Long at 1.3904 Stop: 1.3880 Target: 1.3950

2:15am EST– Unfortunately I was stopped out of my trade. (-24 pips)

5:30am 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 1.3882 with a stop at the most recent swing low at 1.3845. Since I was 18 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3900.

Entry: Long at 1.3882 Stop: 1.3845 Target: 1.3900

9:30am EST– My target was hit. Price did not make a clean break so I took my final profit. I got out at 1.3898. (+16 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -24 +16= -8 pips R-Multiple: -1.00; 0.43

News events to watch for Thursday:

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