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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

6:45am 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 1.3162 with a stop at the most recent swing low at 1.3135. Since I was 38 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.

Entry: Long at 1.3162 Stop: 1.3135 Target: 1.3200

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 close my trade. I got out at 1.3156. (-6 pips)

8:45am 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 1.3163 with a stop at the most recent swing low at 1.3144. Since I was 37 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3200.

Entry: Long at 1.3163 Stop: 1.3144 Target: 1.3200

10:30am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I got out at 1.3201. (+38 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -6 +38= +32 pips R-Multiple: -1.00; 2.00

News events to watch for Thursday:

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