Cowabunga System Daily Update: Tuesday, 05/20/08

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Main Trend

Current Trend= The trend remained down until 4am EST. From 12am – 4am EST, a new trend change candle formed and changed the trend from down to UP. After 4am EST, the trend remained up the rest of the day.

Today I only looked for short trades until 4am EST. After 4am EST, I only looked for long trades.

News events to watch for today :

Today’s Surf

12:15am EST- There was a moving average crossover for a short trade. However, MACD was already negative which cancelled out the signal so I did not enter.

entry2

Trade Result: +0 pips : R-Multiple: N/A

News events to watch for Monday :
  • 4:30am EST- UK MPC Meeting Minutes
  • 2:00pm EST- FOMC Meeting Minutes

For a complete list of news events check out our News Section

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4 comments

  1. hchomat

    Hi Pipsurfer: Once again thank you for your postings.

    My data shows that the crossover from short to long took place at 00:00am 05-20-2008 candle, on the 240min charts and not at 4:00am like yours. If the crossover took place at midnight, shouldn’t we be looking for long trades rather than short trade? If that was the case of long trade and not short trades, why not take the 2:15am trade?

    Reply
  2. hchomat

    Hi Pipsurfer: Once again thank you for your postings.

    My data shows that the crossover from short to long took place at 00:00am 05-20-2008 candle, on the 240min charts and not at 4:00am like yours. If the crossover took place at midnight, shouldn’t we be looking for long trades rather than short trade? If that was the case of long trade and not short trades, why not take the 2:15am trade?

    Reply

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