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.

entry2

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.

  • Pipenstien

    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

  • Pipenstien

    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

  • emacro

    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?

  • rvn

    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?

  • emacro

    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?

  • rvn

    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?