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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:

  • None

Today’s Surf

1:15am 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 1.3058 with a stop at the most recent swing low at 1.3041. Since I was 42 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3100.

Entry: Long at 1.3058 Stop: 1.3041 Target: 1.3100

5:00am EST– Unfortunately I was stopped out of my trade. (-17 pips)

6:45am 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 1.3069 with a stop at the most recent swing low at 1.3019. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3100.

Entry: Long at 1.3069 Stop: 1.3019 Target: 1.3100

11:45am EST– Unfortunately my target wasn’t hit by this time. Since it was about to be 12 noon EST, I decided to manually exit my trade. I got out at 1.3078. (+9 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -17 +9 = -8 pips R-Multiple: -1.00; 0.18

News events to watch for Wednesday:

  • None

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