Cowabunga System Daily Update: 03/12/07

If this is your first time visiting this blog, read this first!

Main Trend

Current Trend= Although we had a big drop in the GBP/USD, the trend remained up the entire day.

Today I only looked for long trades.

Today’s Surf

2:00 pm ET- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was a valid entry. However because the entry occurred very late in the day I decided not to enter this trade.

Trade Result: +0 pips

Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forums.
Like what you've read?
Join over 40,000 other traders who get our newsletter. Tutorials, EAs, chart setups, free forex trading systems, and more!
  • jonesgrif

    Today, we could have used a little direction, the GPD/USD dropped just shy of 200 pip after morning news, would have been nice to see that coming, and Eur/usd was suppose to head south as well, but turned and hit new highs, explain that, I got stopped out of a nice trade. looking forward to the week.

  • pinetree

    Hello PS. With the four hour chart having short and brief cross overs since last week — I count four since March 6 –I am reluctant to make any trades until I see a more normal and better wave pattern the cable usually gives. WHat is your opinion? I find the present climate not too suitable for the cowbunga system. If one wants to trade in this climate, one should look for small pip profits and a quick exit plan. What do you think, cheers?

  • jonesgrif

    Today, we could have used a little direction, the GPD/USD dropped just shy of 200 pip after morning news, would have been nice to see that coming, and Eur/usd was suppose to head south as well, but turned and hit new highs, explain that, I got stopped out of a nice trade. looking forward to the week.

  • pinetree

    Hello PS. With the four hour chart having short and brief cross overs since last week — I count four since March 6 –I am reluctant to make any trades until I see a more normal and better wave pattern the cable usually gives. WHat is your opinion? I find the present climate not too suitable for the cowbunga system. If one wants to trade in this climate, one should look for small pip profits and a quick exit plan. What do you think, cheers?

  • pipsurfer

    Pinetree- Excellent call dude. The FX is an everchanging market so keeping an eye on dangerous conditions is a very important thing to do. I definitely agree with your idea to look for smaller pip profits until the Cable starts to move like normal again. I will be doing the same. Cowabunga dudeee!

  • pipsurfer

    Pinetree- Excellent call dude. The FX is an everchanging market so keeping an eye on dangerous conditions is a very important thing to do. I definitely agree with your idea to look for smaller pip profits until the Cable starts to move like normal again. I will be doing the same. Cowabunga dudeee!