Cowabunga System Daily Double Update: 12/20/07 – 12/21/07

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Thursday

Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

Today’s Surf

9:00am EDT- There was a moving average crossover for a short trade. RSI was less than 50, MACD was positive and losing value, but stochastics were still trending up. This cancelled out the signal and I did not enter.

Trade Result: +0 pips; R-Multiple: N/A

Friday

Main Trend

trend2

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

Today’s Surf

1:15am EDT- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, but MACD was already negative. This cancelled out the signal and I did not enter.

3:15am EDT- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, but MACD was already negative. This cancelled out the signal and I did not enter.

9:15am EDT- 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 1.9856 with a stop at the most recent swing high at 1.9890. Since I was only 6 pips away from the nearest 50 or 00 level (1.9850), I decided to go for the same amount of pips I was risking on the trade, which in this case was 34. This put my initial target at 1.9822.

Entry: Short at 1.9856

Stop: 1.9890

Initial Target: 1.9822

12:15am EDT- My target was hit. Price did not make a clean break of my target so I went ahead and took my final profit.

entry2

Trade Result: +34 pips; R-Multiple: 1.00

On a side note, I wanted to let everyone know that I will be taking a break from trading this coming week to spend time with family and friends for the holidays. I encourage you all to take some time to relax and just enjoy this time of the year. I will begin posting again January 2nd, 2008! Have a Merry Christmas and a Happy New Year dudes and dudettes!!

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  • gryat

    The reason for the 9.15 signal not occuring on the MT4 custom indicator is that the previous MACD (oSMA) bar must’ve been negative (impossible to distinguish).

  • gryat

    The reason for the 9.15 signal not occuring on the MT4 custom indicator is that the previous MACD (oSMA) bar must’ve been negative (impossible to distinguish).