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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:

  • None

Today’s Surf

2:00am 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 1.2945 with a stop at the most recent swing high at 1.2960. Since I was 45 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2900.

Entry: Short at 1.2945 Stop: 1.2960 Target: 1.2900

4:45am EST– My target was hit. Price closed right at my target so I went ahead and took my final profit at 1.2900. (+45 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: +45 pips R-Multiple: 3.00

News events to watch for Thursday:

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