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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

2:30am 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 1.2673 with a stop at the most recent swing low at 1.2649. Since I was 27 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.2700.

Entry: Long at 1.2673 Stop: 1.2649 Target: 1.2700

3:45am EST– Unfortunately I was stopped out of my trade. (-24 pips)

9:15am EST– Didn’t consider this possible signal because it was right before the 10am EST news event.

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -24 pips R-Multiple: -1.00

News events to watch for Thursday:

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