Cowabunga System Daily Update: 07/19/07

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Main Trend

Current Trend= The trend remained up the entire day.

Today I only looked for long trades.

Today’s Surf

2:15 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 2.0530 with a stop at the most recent swing low at 2.0512. Since I was 20 pips away from the nearest 50 level I decided to set my target at 2.0550.

4:15 am ET- At this time my target still isn’t hit and I know that Retail Sales are coming out at 4:30 am ET. I was also only down 3 pips at the time so I decided to minimize my losses and manually exited my trade.

Trade Result: -3 pips; R-Multiple= -0.17

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