Partner Center Find a Broker

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

12:45am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.

The entry was at the close of the candle at 1.2871 with a stop at the most recent swing high at 1.2890. Since I was 21 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2850.

Entry: Short at 1.2871 Stop: 1.2890 Target: 1.2850

2:00am EST– Unfortunately I was stopped out of my trade. (-19 pips)

2:30am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.

The entry was at the close of the candle at 1.2873 with a stop at the most recent swing high at 1.2886. Since I was 23 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2850.

Entry: Short at 1.2873 Stop: 1.2886 Target: 1.2850

3:30am EST– My target was hit. Price didn’t make a clean break and closed right at 1.2850. (+23 pips)

9:30am 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: -19 +23= +4 pips R-Multiple: -1.00; 1.76

News events to watch for Friday:

For a complete list of news events check out our Forex Economic Calendar.
Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forex Forums.