Cowabunga System Daily Update: 08/02/07
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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
12:45 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 2.0309 with a stop at the most recent swing low at 2.0286. Since I was 41 pips away from the nearest 50 level I set my target for 2.0350.
4:45 am ET- Unfortunately I was stopped out at 2.0286 for a 23 pip loss.
6:45 am ET- There was a valid signal here but because it occurred right at the time of the GBP Interest Rate Statement, I did not enter. (Major news event)
Trade Result: -23 pips ; R-Multiple: -1.00
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Related Posts:
- Cowabunga System Daily Update: 07/31/07 14:29 31 July 2007
- Cowabunga System Daily Update: 08/03/07 11:51 06 August 2007
- Cowabunga System Daily Update: 09/12/07 15:08 12 September 2007
- Cowabunga System Daily Update: Monday, 12/10/07 14:22 10 December 2007
- Cowabunga System Daily Update: 08/06/07 14:38 06 August 2007
Archived Comments (1)
Forex Blog: Pip My System
Hello i`ve been watching your trading every day but unfortunately i think that you don`t use right system ..;] look at your trading in 2.08 if you was looking only MACD you will have more success i don`t want to be rude but .... ;] i want to tell you this :) of course if this is yout real system with real money if i can make suggestion you may use Parabolic sar 4h timeframe and you will have more success.I don`t want to offend nobody!!! this is what i think .... happy trading :)