Cowabunga System Daily Update: Tuesday, 09/22/09
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Main Trend
Current Trend
The trend stayed down until 8am EST. From 4am - 8am EST a new trend change candle formed and changed the trend from down to UP. After 8am EST, the trend remained up the rest of the day.
Today I only looked for short trades until 8am EST. After 8am EST, I only looked for long trades.
News events to watch for today :
- 10:00am EST- US House Price Index
Today's Surf
12:15am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative. This cancelled out the signal and I did not enter.
9:15am EST- There was a valid signal here but because it was close to a news report, I didn't enter.
Trade Result: +0 pips R-Multiple: N/A
News events to watch for tomorrow:
- 4:30am EST- UK MPC Meeting Minutes
- 2:15pm EST- US FOMC Statement
For a complete list of news events check out our Forex Economic Calendar.
Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forex Forums.
Related Posts:
- Cowabunga System Daily Update: Monday, 11/23/09 14:56 23 November 2009
- Cowabunga System Daily Update: Tuesday, 09/29/09 12:14 29 September 2009
- Cowabunga System Daily Update: Tuesday, 10/27/09 14:36 27 October 2009
- Cowabunga System Daily Update: Tuesday, 12/01/09 12:04 01 December 2009
- Cowabunga System Daily Update: Tuesday, 11/24/09 15:57 24 November 2009
Archived Comments (3)
Forex Blog: Pip My System
hey pipsurfer do you have all the backtested trades for the cowabunga, the ones beyond your blog? i want to work with some of the data, let me know if you can help me out
-Pipenstien mhalko2@uic.edu
A question on X tick. Is it free or does one need to subscribe?
As well, has anyone used the cowabunga system principles to trade the index futures?
Hi Pipsurfer, how do you identify the trend after a big price up or down because of the news in 4H chart.? can i still see the moving average cross and decide downtrend or uptrend OR need to wait for some time for price stable?