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Main Trend

Cowabunga Forex System
Cowabunga Forex System

Current Trend

The trend was UP until the entire day today.

Today I only looked for long trades.

News events to watch for today:

Today’s Surf

2:00am 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 1.3253 with a stop at the most recent swing low at 1.3232. Since I was 47 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3300.

Entry: Long at 1.3253 Stop: 1.3232 Target: 1.3300

5:30am EST– My target was hit. Price did not make a clean break so I took my final profit and got out at 1.3295. (+42 pips)

Cowabunga Forex System
Cowabunga Forex System


Trade Result: +42 Pips R-Multiple: 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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