Cowabunga System Daily Update: Friday, 12/14/07
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Main Trend
Current Trend= The trend remained down the entire day.
Today I only looked for short trades.
Today's Surf
2:15am EDT- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 2.0396 with a stop at the most recent swing high at 2.0446. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my target at 2.0350
Entry: Short at 2.0396
Stop: 2.0446
Initial Target: 2.0350
4:15am EDT- My target was hit. Price didn't make a clean break so I took my final profit. I managed to exit at 2.0352
Trade Result: +44 pips; R-Multiple: 0.88
News events to watch for tomorrow :
- 9:00am EDT- US TIC Data
For a list of all of tomorrow's news events, check out our Forex Calendar
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Related Posts:
- Cowabunga System Daily Update: Monday, 12/10/07 14:22 10 December 2007
- Cowabunga System Daily Update: 12/19/07 12:20 19 December 2007
- Cowabunga System Daily Update: 10/09/07 12:19 09 October 2007
- Cowabunga System Daily Update: Friday, 10/05/07 11:34 08 October 2007
- Cowabunga System Daily Update: 12/18/07 16:13 18 December 2007
Archived Comments (4)
Forex Blog: Pip My System




Hello pipsurfer! Im just wondering if you missed the short trade yesterday the 13 at 1:30 est pm. Maybe I have missed something.
Cheers
Fredde
Too bad the price didn't make a clean break since that would've given us another 100 pips :O
Hi PipSurfer, A small request. [1] What do you mean by "price making a clean break'? [2] What are the trend change candles that you look for in the 240 mins timeframe, to determine whether to go long or short in the 15 mins time frame.
./Siva
fredde- I stop taking trades after 12pm EDT which is why I did not enter
gryat- I know what you mean! Thats the way it goes sometimes :(
Mailikkal- check out the "read me first" at the top of this post. That should help get you started.
Happy trading everyone!