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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:

Today’s Surf

1:15am 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 1.2981 with a stop at the most recent swing high at 1.2990. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2950.

Entry: Short at 1.2981 Stop: 1.2990 Target: 1.2950

3:15am EST– My target was hit. Price didn’t make a clean break so I took my final profit. I exited at 1.2951 (+30 pips)

10:45am EST– Didn’t consider this possible signal because it was close to 12 noon EST.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: +30 pips R-Multiple: 3.33

News events to watch for Thursday:

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