Cowabunga System Daily Update: Tuesday, 04/22/08

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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 :

Today’s Surf

1:15am 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 1.9791 with a stop at the most recent swing high at 1.9822. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9750.

Entry: Short at 1.9791

Stop: 1.9822

Initial Target: 1.9750

2:30am EST- My target was hit. Price didn’t make enough of a clean break for me to continue on, so I took my final profit. I exited at 1.9749.

entry2

Trade Result: +42 pips : R-Multiple: 1.35

News events to watch for tomorrow :
  • 4:30am EST- MPC Meeting Minutes
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  • elyely

    hello
    im a baby and it my first step today to use cowabunga and it s wonderful system i have never seen.
    weeel……thank

  • elyely

    hello
    im a baby and it my first step today to use cowabunga and it s wonderful system i have never seen.
    weeel……thank

  • Bazsi

    Hello, i’d like to ask a question: i use the cowabunga indicator, but it can be clearly seen without it as well that there was at least one signal almost four hours before. It is also coloured in your chart. Why wasn’t that a valid entry signal for you? Thanks

  • Bazsi

    Hello, i’d like to ask a question: i use the cowabunga indicator, but it can be clearly seen without it as well that there was at least one signal almost four hours before. It is also coloured in your chart. Why wasn’t that a valid entry signal for you? Thanks

  • robotic

    Bazsi,

    The signal is only valid if it occurs after midnight, to avoid whipsaws during the quiet hours…

  • robotic

    Bazsi,

    The signal is only valid if it occurs after midnight, to avoid whipsaws during the quiet hours…