Cowabunga System Daily Update: 08/30/07

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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

2:155 am ET– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, but MACD was already positive. This cancelled out the signal and prevented me from entering. No trade!

Entry: None
Stop: None
Initial Target: None

8:15 am ET– Here we had a perfectly good signal but it happened right before a major news report set to come out at 8:30 am ET (US GDP). No entry!

Trade Result: +0 pips

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  • pinetree

    PS -for the 2:15am trade –you mean I believe there was a crossover for a long trade –RSI was greater than 50 and stochastics was trending up –cheers.

  • pinetree

    PS -for the 2:15am trade –you mean I believe there was a crossover for a long trade –RSI was greater than 50 and stochastics was trending up –cheers.

  • MARKUSF.NEUTZER

    HI,
    I WOULD LIKE TO KNOW WHEN I GO SHORT MAC D HAS TO BE positive.SO FAR I UNDERSTAND IT SHOWS THAN POSITIVE MOMENTUM.
    COULD YOU EXPLAIN ME WHY????

    NEUTZER3000@GMAIL.COM

  • MARKUSF.NEUTZER

    HI,
    I WOULD LIKE TO KNOW WHEN I GO SHORT MAC D HAS TO BE positive.SO FAR I UNDERSTAND IT SHOWS THAN POSITIVE MOMENTUM.
    COULD YOU EXPLAIN ME WHY????

    NEUTZER3000@GMAIL.COM

  • PipSurfer

    Pinetree- Thanks for the catch. You save me all the time, haha :)

  • PipSurfer

    Pinetree- Thanks for the catch. You save me all the time, haha :)