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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  • 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

  • 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

  • PipSurfer

    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!

  • PipSurfer

    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!

  • 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.

  • 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.