Cowabunga System Daily Update: 08/12/07
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Main Trend
Current Trend= The trend remained down the entire day
Today's Surf
10:00 am ET- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 2.0129 with a stop at the most recent swing high which was at 2.0155. Since I was 29 pips away from the nearest 00 level I decided to put my target at 2.0100.
Entry: Short at 2.0129
Stop: 2.0155
Initial Target: 2.0100
4:00 pm ET- Unfortunately my target was not hit by this time so I manually exited my trade at breakeven.
Trade Result: +0 pips
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Related Posts:
- Cowabunga System Daily Update: 08/14/07 15:01 14 August 2007
- Cowabunga System Daily Update: Friday, 09/21/07 09:23 24 September 2007
- Cowabunga System Daily Update: 03/28/07 15:55 28 March 2007
- Cowabunga System Daily Update: 09/25/07 12:44 25 September 2007
- Cowabunga System Daily Update: 06/21/07 16:50 21 June 2007
Comments (3)
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Forex Blog: Pip My System
Hi,
Thanks for making your system available for free. am very comfortable with it. it has been working for me for the past three days with a little adjustment to suit my trading style
I'm glad to hear that michwales! I'm happy to see you tweaking it to fit your personal style. That's what this whole blog was intended to do. Happy trading!
Hi
thanks for that system. would there be adjustment to the 3 hrs chart rather than the 4hrs chart as i am using oanda.