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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

12:30am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry.

The entry was at the close of the candle at 1.4295 with a stop at the most recent swing high at 1.4306. Since I was 45 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4250.

Entry: Short at 1.4295 Stop: 1.4306 Target: 1.4250

1:45am EST– Unfortunately I was stopped out of my trade. (-11 pips)

2:45am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry.

The entry was at the close of the candle at 1.4292 with a stop at the most recent swing high at 1.4314. Since I was 42 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.4250.

Entry: Short at 1.4292 Stop: 1.4314 Target: 1.4250

4:15am EST– My target wasn’t hit by this time. Since news was coming out at 4:30am EST, I decided to manually close out my trade. I got out at 1.4274. (+18 pips)

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

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -11 +18= +7 pips R-Multiple: -1.00; 0.81

News events to watch for Thursday:

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