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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

1:30am 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 1.3250 with a stop at the most recent swing high at 1.3258. Since I was 50 pips away from the nearest 50 or 00 level, I put my initial target at 1.3200.

Entry: Short at 1.3250 Stop: 1.3258 Target: 1.3200

1:45am EST– Unfortunately I was stopped out of my trade. (-8 pips)

5:00am 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 1.3267 with a stop at the most recent swing high at 1.3292. Since I was 17 pips away from the nearest 50 or 00 level, I put my initial target at 1.3250.

Entry: Short at 1.3267 Stop: 1.3292 Target: 1.3250

7:00am EST– Unfortunately I was stopped out of my trade. (-25 pips)

10:30am 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.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -8 -25= -33 pips R-Multiple: -1.00; -1.00

News events to watch for Thursday:

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