Cowabunga System Daily Update: Thursday, 12/13/07

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Main Trend

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.

Today’s Surf

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 :

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  • SteveT

    Hi, you appear to have posted today and yesterdays summary quite early in the day. Do you still use 4pm ET as end of trading day for this system or are you just winding down for xmas :)

  • foodaba

    I could be wrong but i don’t think pipsurfer trades after

    12 noon edt….so the trading window is 12midnite to noon

    the next day..

  • tonymand

    This is yesterdays 15 min chart Dude, can you update with the correct one

  • SteveT

    Hi, you appear to have posted today and yesterdays summary quite early in the day. Do you still use 4pm ET as end of trading day for this system or are you just winding down for xmas :)

  • foodaba

    I could be wrong but i don’t think pipsurfer trades after

    12 noon edt….so the trading window is 12midnite to noon

    the next day..

  • tonymand

    This is yesterdays 15 min chart Dude, can you update with the correct one

  • PipSurfer

    Hi steve- Foodaba is right. I only look for trades until 12pm EDT. If I am in a trade before then but my target isn’t hit, I’ll hold it until 4pm EDT before closing.

    Tony- Thanks for pointing that out. I fixed it now.

    Happy trading everyone!

  • SteveT

    Thanks to Foodaba & PipSurfer for the response.

  • PipSurfer

    Hi steve- Foodaba is right. I only look for trades until 12pm EDT. If I am in a trade before then but my target isn’t hit, I’ll hold it until 4pm EDT before closing.

    Tony- Thanks for pointing that out. I fixed it now.

    Happy trading everyone!

  • SteveT

    Thanks to Foodaba & PipSurfer for the response.