Cowabunga System Daily Update: 08/23/07

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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

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  • 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?