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 :
- 8:30am EST- US Unemployment Claims
- 10:00am EST- US Philadelphia Fed Index
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.
Trade Result: +19 pips : R-Multiple: 0.48
News events to watch for tomorrow :
- None
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Related Posts:
- Cowabunga System Daily Update: Tuesday, 02/26/08 12:42 26 February 2008
- Cowabunga System Daily Update: Thursday, 04/24/08 12:48 24 April 2008
- Cowabunga System Daily Update: Tuesday, 04/22/08 12:05 22 April 2008
- Cowabunga System Daily Update: Thursday, 05/08/08 12:50 08 May 2008
- Cowabunga System Daily Update: Monday, 05/05/08 13:34 05 May 2008
Archived Comments (2)
Forex Blog: Pip My System
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!
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 :)