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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 :
- 10:00am EST- US Existing Home Sales
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.
Trade Result: +42 pips : R-Multiple: 1.35
News events to watch for tomorrow :
- 4:30am EST- MPC Meeting Minutes
Questions? Read the Cowabunga FAQ.
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Related Posts:
- Cowabunga System Daily Update: Thursday, 04/24/08 12:48 24 April 2008
- Cowabunga System Daily Update: Thursday, 04/17/08 12:27 17 April 2008
- Cowabunga System Daily Update: Monday, 05/05/08 13:34 05 May 2008
- Cowabunga System Daily Update: Tuesday, 04/01/08 12:59 01 April 2008
- Cowabunga System Daily Update: Tuesday, 03/18/08 13:02 18 March 2008
Archived Comments (3)
hello
im a baby and it my first step today to use cowabunga and it s wonderful system i have never seen.
weeel......thank
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,
The signal is only valid if it occurs after midnight, to avoid whipsaws during the quiet hours...