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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

5:45am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was a valid entry.

The entry was at the close of the candle at 1.3338 with a stop at the most recent swing high at 1.3311. Since I was 12 pips away from the nearest 50 or 00 level, I put my initial target at 1.3350.

Entry: Long at 1.3338 Stop: 1.3311 Target: 1.3350

8:15am EST– Unfortunately 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 1.3342. (+4 pips)

10:45am EST– Didn’t consider this possible signal because it was too close to 12 noon EST.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: +4 pips R-Multiple: 0.14

News events to watch for Friday:

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