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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

3:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative from the previous candle. This cancelled out my signal and I did not enter.

4:45am 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 1.3587 with a stop at the most recent swing high at 1.3629. Since I was 37 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3550.

Entry: Short at 1.3587 Stop: 1.3629 Target: 1.3550

8:15am EST– My target wasn’t hit by this time. Since news was coming out at 8:30am EST, I decided to manually exit my trade. I got out at 1.3590. (-3 pips)

9:00am EST– Didn’t consider this possible signal because it was close to the 8:15am EST news event.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -3 pips R-Multiple: -0.07

News events to watch for Friday:

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