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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

3:00am 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 1.3177 with a stop at the most recent swing low at 1.3161. Since I was 23 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.

Entry: Long at 1.3177 Stop: 1.3161 Target: 1.3200

3:30am EST– Unfortunately I was stopped out of my trade. (-16 pips)

5:00am 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 1.3174 with a stop at the most recent swing low at 1.3151. Since I was 26 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.

Entry: Long at 1.3174 Stop: 1.3151 Target: 1.3200

6:15am EST– Unfortunately I was stopped out of my trade. (-23 pips)

8:00am 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 1.3175 with a stop at the most recent swing low at 1.3137. Since I was 25 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.

Entry: Long at 1.3175 Stop: 1.3137 Target: 1.3200

9:45am EST– Unfortunately my target wasn’t hit. News was coming out at 10:00am EST so I decided to manually exit my trade. I got out at 1.3160. (-14 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -16 -23 -14= -53 pips R-Multiple: -1.00; -1.00; -0.36

News events to watch for Thursday:

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