Cowabunga System Daily Update: 02/05/07

If this is your first time visiting this blog, read this first!

Main Trend

Current Trend= Trend change candle occurred at yesterday at 7:00 pm ET. Trend changed from up to DOWN

After 11:00 pm ET, I only looked for short trades.

Today’s Surf

4:15 am ET- There was a moving average crossover for a short trade. RSI<50, Stochastics were trending down, and MACD was positive and switched to negative. This is a valid entry. Entry was at the close of the candle which was at 9631 with a stop at the most recent swing high which was at 9667. Since the entry was after midnight I decided to set my initial target for the nearest 00 level which was at 9600.

4:30 am ET- The price moves to 9600 and gets as low as 9596 but at that point it didn’t look like the price was going any lower so I exited out at 9601.

Trade Result: +30 pips; R-Multiple= 0.83

  • http://question mohamedatef7

    i want to ask qustion why your target at 1.9600 , and why you didnt continue in the trade as the inner trend didnt broke so you can continue in the trade till the next support
    thxxx very much

  • sivanisky

    What I would like to know is, do you stay up all night waiting for this kind of thing to happen?

  • dcpeter3

    The “So Simple It’s Rediculous” trading strategy specified that trading action should occur at the end of the day. When do you evaluate EMA crossovers in the Cowabunga system? Do you wait until the end of a 15-minute period to determine the presence of a trend? The end of a 4-hour period to determine the direction of a trend?

  • sambhu

    I am very happy to inform you that I was able to foresea and expected the move before half an hour of the actual occourance. Unfortunately, I could not take advantage of the movement due to power cut.When get connected, I found that the market had already moved about 100 PIPS.
    Today one somewhat similar combination occured at about 5.45 AM(GMT).I haven’t missed this time. Please tell me if I have done any mistake.

  • http://question mohamedatef7

    i want to ask qustion why your target at 1.9600 , and why you didnt continue in the trade as the inner trend didnt broke so you can continue in the trade till the next support
    thxxx very much

  • sivanisky

    What I would like to know is, do you stay up all night waiting for this kind of thing to happen?

  • dcpeter3

    The “So Simple It’s Rediculous” trading strategy specified that trading action should occur at the end of the day. When do you evaluate EMA crossovers in the Cowabunga system? Do you wait until the end of a 15-minute period to determine the presence of a trend? The end of a 4-hour period to determine the direction of a trend?

  • sambhu

    I am very happy to inform you that I was able to foresea and expected the move before half an hour of the actual occourance. Unfortunately, I could not take advantage of the movement due to power cut.When get connected, I found that the market had already moved about 100 PIPS.
    Today one somewhat similar combination occured at about 5.45 AM(GMT).I haven’t missed this time. Please tell me if I have done any mistake.

  • mohamedatef7

    i have a small question what is the 00 and 50 level . i want to know to can determine my target plz replly

  • mohamedatef7

    i have a small question what is the 00 and 50 level . i want to know to can determine my target plz replly

  • bigpippin

    moahmedatef7- Please refer to the “Read me first” link at the top of the post and check out the “FAQ” page link at the end of the post. I think you’ll find the answer to your questions there.

    sivaniski- Please refer to the FAQ page.

    dcpeter3- If you’re asking if I wait until the close of the candle before making any decisions, then the answer is a most definite YES. You always want to wait to see the whole story before making any decisions because the price can move very fast, and what may have looked like a good signal in the beginning may turn out to be the complete opposite by the end of the candle.

  • bigpippin

    moahmedatef7- Please refer to the “Read me first” link at the top of the post and check out the “FAQ” page link at the end of the post. I think you’ll find the answer to your questions there.

    sivaniski- Please refer to the FAQ page.

    dcpeter3- If you’re asking if I wait until the close of the candle before making any decisions, then the answer is a most definite YES. You always want to wait to see the whole story before making any decisions because the price can move very fast, and what may have looked like a good signal in the beginning may turn out to be the complete opposite by the end of the candle.