Cowabunga System Daily Update: Friday, 04/18/08

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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 :
  • None

Today’s Surf

10:45am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 1.9969 with a stop at the most recent swing low at 1.9906. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 2.0000.

Entry: Long at 1.9969
Stop: 1.9906
Initial Target: 2.0000

3:45am EST– My target wasn’t hit by this time. It was the end of the day so I closed my trade out. I exited at 1.9946.

entry2

Trade Result: -23 pips : R-Multiple: -0.36

News events to watch for Monday :
  • None
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