Cowabunga System Daily Update: 09/07/07

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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

11:45am ET- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 2.0281 with a stop at the most recent swing low at 2.0243. Since I was 19 pips away from the nearest 00 level, I decided to put my target at 2.0300.

Entry: Long at 2.0281

Stop: 2.0243

Initial Target: 2.0300

12:00pm ET- My target was hit. The price did NOT make a clean break of the 2.0300 level so I took my final profit.

Trade Result: +19 pips; R-Multiple: 0.50

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  • Alvo

    Hi Pip Surfer,

    I believe you’ve posted the chart of yesterday again.

    Alvo

  • Alvo

    Hi Pip Surfer,

    I believe you’ve posted the chart of yesterday again.

    Alvo

  • PipSurfer

    Ooops sorry about that Alvo. Thank goodness my computer skills don’t correlate with my trading skills, haha. Good catch!

  • PipSurfer

    Ooops sorry about that Alvo. Thank goodness my computer skills don’t correlate with my trading skills, haha. Good catch!