Cowabunga System Daily Update: Thursday, 12/13/07
Current Trend= The trend remained up until 11am EDT. From 7am – 11am EDT, a new trend change candle formed and changed the trend from up to DOWN. After 11am EDT, the trend remained down the rest of the day.
Today I looked for long trades until 11am EDT. After 11am EDT, I only looked for short trades.
5:30am EDT- There was a moving average crossover for a long trade. However, RSI was not greater than 50 and MACD was already positive. This cancelled out the signal and I did not enter.
6:00am EDT- There was a moving average crossover for a long trade. However, Stochastics had not crossed up and MACD was already positive. This cancelled out the signal and I did not enter.
Trade Result: +0 pips; R-Multiple: N/A
News events to watch for tomorrow :
For a list of all of tomorrow’s news events, check out our Forex Calendar
Want to discuss the Cowabunga System? Visit our Forums.