Cowabunga System Daily Update: Wednesday, 09/24/08

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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 :

  • 6:00am EST- UK CBI Realized Sales
  • 10:00am EST- US Existing Home Sales; Bernanke Speaks

Today’s Surf

2:30am 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 1.8551 with a stop at the most recent swing low at 1.8501. Since I was 49 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.8600.

Entry: Long at 1.8551

Stop: 1.8501

Initial Target: 1.8600

5:45am EST- My target was hit. Price did not make a clean break of my target so I took my final profit. I exited at 1.8595.

entry2

Trade Result: +44 pips R-Multiple: 0.88

News events to watch for tomorrow :

  • 8:30am EST- US Core Durable Goods, US Unemployment Claims
  • 10:00am EST- US New Home Sales

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

Questions? Read the Cowabunga FAQ.

Want to discuss the Cowabunga System? Visit our Forums.

  • ihatemy925

    Nice Trade! On that last chart it looks as if another trade was shaping up on the far right. Another candle or so and it would be confirmed…would this be an accurate anlysis?

  • ihatemy925

    Nice Trade! On that last chart it looks as if another trade was shaping up on the far right. Another candle or so and it would be confirmed…would this be an accurate anlysis?

  • Elessar2006

    Sorry if this quetion is already made but I didnt find it, so I wonder what is the name of the software you are using (the chart softwre)????????

  • Elessar2006

    Sorry if this quetion is already made but I didnt find it, so I wonder what is the name of the software you are using (the chart softwre)????????

  • Pipcrawler

    We use Xtick on all of our blog charts Elessar.

  • Pipcrawler

    We use Xtick on all of our blog charts Elessar.

  • Elessar2006

    Thanks Pipcrawler but how can u make Xtick to be in diferent coloros? like the blue and black bars in the video, the software makes it by it self or u make it manualy???

    As I see those blue and black bars indicate the trending change of the Cowabunga sistem, how can i do it?????

  • Elessar2006

    Ho, i forget to ask, if it’s automatic, how can i do to make the color change in my own strategy?????

  • Elessar2006

    Ok I answer my self thanks

    http://www.xtick.com/xpaint.html

  • Elessar2006

    Thanks Pipcrawler but how can u make Xtick to be in diferent coloros? like the blue and black bars in the video, the software makes it by it self or u make it manualy???

    As I see those blue and black bars indicate the trending change of the Cowabunga sistem, how can i do it?????

  • Elessar2006

    Ho, i forget to ask, if it’s automatic, how can i do to make the color change in my own strategy?????

  • Elessar2006

    Ok I answer my self thanks

    http://www.xtick.com/xpaint.html

  • Elessar2006

    Are pairs like EUR/USD not avaleble in demo verison???????

  • Elessar2006

    Are pairs like EUR/USD not avaleble in demo verison???????