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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

3:15am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive. This was a valid entry.

The entry was at the close of the candle at 1.2921 with a stop at the most recent swing high at 1.2895. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2950.

Entry: Long at 1.2921 Stop: 1.2895 Target: 1.2950

8:00am EST– My target was hit. Price made a clean break but news was coming out at 8:15am EST so I decided to manually exit my trade. I got out at 1.2954. (+33 pips)

11:00am EST– Didn’t consider this possible signal because it was close to 12 noon EST.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: +33 pips R-Multiple: 1.26

News events to watch for Friday:

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