Cowabunga System Daily Update: Tuesday, 09/22/09

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

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.

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!
  • 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?