Cowabunga System Daily Update: Monday, 10/08/07

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Main Trend

Current Trend= The trend remained up until 12pm ET. From 8am – 12pm ET, a new trend change candle formed and changed the trend from up to DOWN. After 12pm ET, the trend remained down the rest of the day.

Today I only looked for long trades until 12pm ET. Since I wasn’t in a trade by 12pm ET, I called it a day and stopped look for trades at this time.

Today’s Surf

7:00am ET– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, but MACD was already positive. This cancelled the signal and I did not enter.

Trade Result: +0 pips

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