Cowabunga System Daily Update: Thursday, 07/03/2014

If this is your first time visiting this blog, read this first!

Main Trend

Trend

 

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

3:45am EST- Didn’t consider this possible signal because it was too close to the 4:30am EST news.

6:15am 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 1.7150 with a stop at the most recent swing low at 1.7132. I was 50 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.7200.

Entry: Long at 1.7150 Stop: 1.7132 Target: 1.7200

7:00am EST– Unfortunately I was stopped out of my trade. (-18 pips)

9:15am EST- Didn’t consider this possible signal because it was too close to the 10:00am EST news.

Entry

 

Trade Result: -18 pips R-Multiple: -1.00

News events to watch for Friday:

  • US Holiday- I advice you to not trade tomorrow!

For a complete list of news events check out our Forex Economic Calendar.
Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forex Forums.

  • Sunil Gosai (sunzbck)

    Hey Pipsurfer!

    First let me thank you for keeping this blog going!

    I had one question, do you think the Cowabunga system’s performance has changed over the years you’ve been trading it? As I read on the forums that people were finding it was becoming less and less profitable.

    I’m fully aware you’re still making pips with it, I have checked over your blog, but I just don’t know how it compares with the early years, as I’m aware you only kept yearly records for 1.5 years?

    Thanks!