Cowabunga System Daily Update: Monday, 04/28/08

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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

5:00am 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 1.9850 with a stop at the most recent swing low at 1.9779. Since I was 50 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9900.

Entry: Long at 1.9850
Stop: 1.9779
Initial Target: 1.9900

6:00am EST– My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.9895.

entry2

Trade Result: +45 pips : R-Multiple: 0.63

News events to watch for tomorrow :
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