Cowabunga System Daily Update: Tuesday, 03/11/08

If this is your first time visiting this blog, read this first!

 

Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

News events to watch for today :

Today’s Surf

1:00am EST– There was a moving average crossover for a short trade. RSI was less than 50, MACD was positive and losing value, but stochastics were not trending up. This cancelled out the signal and I did not enter.

2:45am EST– 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 2.0060 with a stop at the most recent swing high at 2.0090. Since I was only 10 pips away from the nearest 50 or 00 level (2.0050), I decided to go for the same amount of pips I was risking on the trade, which in this case was 30. This put my initial target at 2.0030.

Entry: Long at 2.0060
Stop: 2.0090
Initial Target: 2.0030

3:30am EST– Unfortunately I was stopped out of my trade.

entry2

Trade Result: -30 pips; R-Multiple: -1.00

News events to watch for tomorrow :
  • 5:30am EST– UK Trade Balance
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  • MissPips

    Way cool!!!!!!! So much more useful than just reading about it.

    Thanks for all your hard work!

  • True777

    Well done on the video, really enjoyed it.

    My question is this, what other pairs tend to to trend well since this systems seems to work best on a trending market?

  • vbrown5897

    Awesome Dude! very cool that you now have a video.

  • gryat

    Awesome video!

  • gryat

    Awesome video!

  • BrandonnKim

    Thanks for the video… It really helped!!! Please keep up the good work. Thank You!!!

  • BrandonnKim

    One question… How do you get the candle to change purple?

    Thanks

  • MissPips

    Way cool!!!!!!! So much more useful than just reading about it.

    Thanks for all your hard work!

  • True777

    Well done on the video, really enjoyed it.

    My question is this, what other pairs tend to to trend well since this systems seems to work best on a trending market?

  • vbrown5897

    Awesome Dude! very cool that you now have a video.

  • gryat

    Awesome video!

  • avey198

    Thanks for the video. Your system is great! One comment. My MACD was already negative at 2:45am (value negative and signal negative and rising).

  • BrandonnKim

    Thanks for the video… It really helped!!! Please keep up the good work. Thank You!!!

  • BrandonnKim

    One question… How do you get the candle to change purple?

    Thanks

  • avey198

    Thanks for the video. Your system is great! One comment. My MACD was already negative at 2:45am (value negative and signal negative and rising).

  • Klee

    Great video… I really appreciate the way you apply the rules…. no catching at straws….Really great… plan trade and trade plan. Thanks

  • Klee

    Great video… I really appreciate the way you apply the rules…. no catching at straws….Really great… plan trade and trade plan. Thanks