Cowabunga System Daily Update: 07/24/07

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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 2.0623 with a stop at the most recent swing low at 2.0591. Since I was 27 pips away from the nearest 50 level I decided to set my target at 2.0650.

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 2.0602.

Trade Result: -21 pips; R-Multiple= -0.91

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