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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6 comments

  1. michwales

    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

    Reply
  2. michwales

    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

    Reply
  3. Pip SurferPipSurfer

    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!

    Reply
  4. Pip SurferPipSurfer

    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!

    Reply
  5. fxPharoh

    Hi
    thanks for that system. would there be adjustment to the 3 hrs chart rather than the 4hrs chart as i am using oanda.

    Reply
  6. fxPharoh

    Hi
    thanks for that system. would there be adjustment to the 3 hrs chart rather than the 4hrs chart as i am using oanda.

    Reply

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