Cowabunga System Daily Update: Friday, 04/11/08

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Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

News events to watch for today :
  • None

Today’s Surf

12:45am EST– There was almost a signal here but MACD was already negative so it cancelled it out. No entry!

5:15am EST– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.9734 with a stop at the most recent swing high at 1.9766. Since I was 34 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9700.

Entry: Short at 1.9734
Stop: 1.9766
Initial Target: 1.9700

8:45am EST– My target was hit. Price did not make a clean break so I took my final profit. I managed to exit right at 1.9700 where the candle closed.

entry2

Trade Result: +34 pips: R-Multiple: 1.06

News events to watch for Monday :
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  • jsese

    Hey..I got super lucky today cause I missed the trade at 5:15 but got in on the 8:45 bar crossovevr that actually hit the target. I missed out on 10 pips or so but..something is something.
    Have a good weekend.

  • enit

    Hello there. I was wondering is there anyone out there that would be managing my (and maybe others) account or is this allready doing?

    be well

  • jsese

    Hey..I got super lucky today cause I missed the trade at 5:15 but got in on the 8:45 bar crossovevr that actually hit the target. I missed out on 10 pips or so but..something is something.
    Have a good weekend.

  • enit

    Hello there. I was wondering is there anyone out there that would be managing my (and maybe others) account or is this allready doing?

    be well

  • uphan

    When you said that you was 34 pips away from the nearest 50 or 00 level what did you mean ? Could you please explain ? Thanks !

  • uphan

    When you said that you was 34 pips away from the nearest 50 or 00 level what did you mean ? Could you please explain ? Thanks !