Cowabunga System Daily Update: Monday, 02/25/08
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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
1:15am EDT- 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 out the signal and I did not enter.
1:45am EDT- There was a moving average crossover for a long trade. RSI was greater than 50, but stochastics had crossed down and MACD was already positive. This cancelled out the signal and I did not enter.
4:30am EDT- 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 out the signal and I did not enter.
7:30am EDT- 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 out the signal and I did not enter.
Trade Result: +0 pips; R-Multiple: N/A
News events to watch for tomorrow :
- 4:30am EDT- GBP Business Investment
- 6:00am EDT- GBP CBI Distributive Trades
- 8:30am EDT- US PPI
- 10:00am EDT- US Consumer Confidence
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Related Posts:
- Cowabunga System Daily Update: Friday, 03/14/08 12:29 17 March 2008
- Cowabunga System Daily Update: Tuesday, 11/27/07 14:11 27 November 2007
- Cowabunga System Daily Update: Thursday, 05/08/08 12:50 08 May 2008
- Cowabunga System Daily Update: Thursday, 12/13/07 12:07 13 December 2007
- Special Thanksgiving Cowabunga System Update 13:25 21 November 2007
Archived Comments (5)
Forex Blog: Pip My System
Hello PS, welcome back. This has nothing to do with the cowabunga system, but maybe you'll know it anyway. Today at 2.15 AM ET (no news at that hour), there was a very quick fall in price (seems as it was one big trade actually. It wasn't really a volatile market hour, which you can see if you turn on "volumes" in MT4). Was that some kind of central bank deal or what was it?
Cause i've never seen anythin like that
I noticed a few people have asked but it hasn't been anwered yet about MACD and I'm having the same problem as others. My settings for MACD are the same as yours but I can't get mine to look like yours. I'm using MT4. Can you comment on that? Thx u.
Of course it has been answered. Many times
gyrat- Good question. Every move cannot be explained. There are so many factors that go on into the movements of the Forex that it would be impossible to pinpoint. However, central banks are known to make sudden moves and if you do see big movements at weird times, you can almost bet that it is a big bank move. Hope that helps :)