Cowabunga System Daily Update: 07/23/07
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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
8:00 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 2.0581 with a stop at the most recent swing low at 2.0564. Since I was 19 pips away from the nearest 00 level I decided to set my target at 2.0600.
4:00 pm ET- At this time my target still isn't hit and it is 4pm EST. Since my target isn't hit yet, I manually close my trade and end up getting out at 2.0578.
Trade Result: -3 pips; R-Multiple= -0.43
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Related Posts:
- Cowabunga System Daily Update: 07/24/07 21:24 24 July 2007
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- Cowabunga System Daily Update: 06/21/07 16:50 21 June 2007
- Cowabunga System Daily Update: 04/04/07 17:16 04 April 2007
- Cowabunga System Daily Update: 07/19/07 21:50 19 July 2007
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Strange
My MACD is still neg. It is turning towards postive but only happens 3 bars later. Any ideas ?