Cowabunga System Daily Update: Thursday, 04/17/08

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Main Trend

Current Trend= The trend remained up the entire day

Today I only looked for long trades

News events to watch for today :

Today’s Surf

1:00am EST- There was almost a signal here but MACD was already positive. This cancelled out the signal and I did not enter.

3:30am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value. This was a valid entry. The entry was at the close of the candle at 1.9729 with a stop at the most recent swing low at 1.9690. Since I was 21 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9750.

Entry: Long at 1.9729

Stop: 1.9690

Initial Target: 1.9750

4:45am EST- My target was hit. Price did not make a clean break of my target so I took my final profit. I exited at 1.9748.

entry2

Trade Result: +19 pips : R-Multiple: 0.48

News events to watch for tomorrow :
  • None
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  • eurofx

    Hi Dude! I got that trade but my chart was showing the same value for both EMAs at the 3:30am EST candle so I entered at the end of the 3:45. I’m not sure what to do when that happens, any advice?

    Cheers mate!

  • eurofx

    Hi Dude! I got that trade but my chart was showing the same value for both EMAs at the 3:30am EST candle so I entered at the end of the 3:45. I’m not sure what to do when that happens, any advice?

    Cheers mate!

  • gryat

    Hey, atleast you got better result than me. I misread the newscalender and exited accidentely. $80 real bucks bye bye. But what the fuck, i always come again :)

  • gryat

    Hey, atleast you got better result than me. I misread the newscalender and exited accidentely. $80 real bucks bye bye. But what the fuck, i always come again :)