Cowabunga System Daily Update: 08/23/07

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

Main Trend

Current Trend= The trend remained up the entire day.

Today I only looked for long trades.

Today’s Surf

4:45 am ET– This was a moving average crossover for a long trade. RSI was greater than 50, stochastics was trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 9974 with a stop at the most recent swing low at 9936. Since I was 26 pips away from the nearest 00 level I decided to put my target at 2.0000.

Entry: Long at 9974
Stop: 9936
Initial Target: 2.0000

5:15 am ET– My target is hit. The candle doesn’t make a clean break so I take my final profit.

Trade Result: +26 pips; R-multiple: .68

Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forums.
Like what you've read?
Join over 40,000 other traders who get our newsletter. Tutorials, EAs, chart setups, free forex trading systems, and more!
  • leepaynesnake

    there is a valid entry on 2am. How come you didnt mention it?

  • leepaynesnake

    there is a valid entry on 2am. How come you didnt mention it?