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Main Trend

Cowabunga Forex System
Cowabunga Forex System

Current Trend

The trend was DOWN until the entire day today.

Today I only looked for short trades.

News events to watch for today:

Today’s Surf

3:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry.

The entry was at the close of the candle at 1.3037 with a stop at the most recent swing high at 1.3051. Since I was 37 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3000.

Entry: Short at 1.3037 Stop: 1.3051 Target: 1.3000

4:15am EST– My target wasn’t hit by this time. Since news was coming out at 4:30am EST, I decided to lock in as much profit as I could and exited my trade at 1.3009. (+28 pips)

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

Cowabunga Forex System
Cowabunga Forex System


Trade Result: +28 Pips R-Multiple: 2.00

News events to watch for Friday:

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