Cowabunga System Daily Update: 06/21/07

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

Main Trend

Current Trend= The trend remained up the entire day.

Today I only looked for long trades.

Today’s Surf

1:45 am ET- There was a moving average crossover for a long trade but MACD was already positive which cancelled out the signal. No entry.

7:30 am ET- 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 which was at 9922 with a stop at the most recent swing low which was at 9885. Since I was 28 pips away from the nearest 50 level I decided to put my target at 9950.

4:00 pm ET- My target wasn’t hit by 4pm ET so I manually closed out my trade at breakeven.

Trade Result: +0 pips

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2 comments

  1. scooter

    Hello, I am new to Forex but not the markets. I was using a system that is pretty close to yours and found your tweaks very useful! I was wondering though how long have you used this system? My only worry with the system that I am using is that it may stop working one day. I can’t think of why but it is still a concern of mine. What do you think??

    Thanks,
    Scott

    Reply
  2. scooter

    Hello, I am new to Forex but not the markets. I was using a system that is pretty close to yours and found your tweaks very useful! I was wondering though how long have you used this system? My only worry with the system that I am using is that it may stop working one day. I can’t think of why but it is still a concern of mine. What do you think??

    Thanks,
    Scott

    Reply

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