Cowabunga System Daily Update: Tuesday, 08/26/08

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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

4:00am EST- There was a moving average crossover for a short trade, RSI was less than 50, MACD went from positive to negative, but stochastics was trending up which cancelled out the signal. Also, although it wasn’t news for the GBP or USD, the German Business Climax Index showed a contracting economy for the first time in a very long time which had a ripple effect across the board. Because of this I would not have traded it even if it was a valid signal because I would’ve considered a news candle.

entry2

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

News events to watch for tomorrow :

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

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  • stcary

    Hi Pipsurfer Welcome back! I have a question; Why when entry patterns have formed, you wait for that candle to close, before you enter. I have noticed that sometimes a lot of pips can be lost while waiting for the next candle. stcary

  • stcary

    Hi Pipsurfer Welcome back! I have a question; Why when entry patterns have formed, you wait for that candle to close, before you enter. I have noticed that sometimes a lot of pips can be lost while waiting for the next candle. stcary

  • titodalla@hotmail.com

    Your vacation was very well timing (right after your honneymoon)You have any idea how much you would lost if you trade the signals those days????

  • titodalla@hotmail.com

    Your vacation was very well timing (right after your honneymoon)You have any idea how much you would lost if you trade the signals those days????