Cowabunga System Daily Update: Monday, 11/23/09
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Main Trend
Current Trend
The trend stayed down until 11am EST. From 7am - 11am EST, a new trend change candle formed and changed the trend from down to UP. After 11am EST, the trend remained up the rest of the day.
Today I only looked for short trades until 11am EST. After 11am EST, I only looked for long trades.
News events to watch for today :
- None
Today's Surf
10:15am 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.
Trade Result: +0 pips R-Multiple: N/A
News events to watch for tomorrow:
- 4:30am EST- UK BBA Mortgage Approvals
- 8:30am EST- US Prelim GDP q/q
- 9:00am EST- US S&P/CS Composite-20 HPI y/y
- 10:00am EST- US CB Consumer Confidence
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: Wednesday, 11/18/09 14:04 18 November 2009
- Cowabunga System Daily Update: Tuesday, 11/24/09 15:57 24 November 2009
- Cowabunga System Daily Update: Tuesday, 12/15/09 12:17 15 December 2009
- Cowabunga System Daily Update: Monday, 11/30/09 14:04 30 November 2009
- Cowabunga System Daily Update: Tuesday, 12/01/09 12:04 01 December 2009
Archived Comments (5)
Forex Blog: Pip My System
metatrader does have a 4 hour chart just type h4 in the slot
you can even do hour or what ever you want.
Also i just got a subscription to x tick and was wondering about the alerts. I can get it to email me when a cross over occures but I would like to have it text message me instead. is that possible?
That was intense. First read, nice stuff.
You did not take a trade because the MACD was already negative. What would the MACD need to show you in order to take the trade. I am thinking it would have to be decreasing in value?
lonnie- check this post out. http://forums.babypips.com/free-forex-trading-systems/727-cowabunga-system-2.html#post3612 it will give you all the ways to have emails sent to your phone.
mpearson- for short trades MACD must be positive and decreasing in value or go from positive to negative. It can't already be negative from the candle before. This indicates that we've missed the best possible entry point already.
Happy trading everyone!
@mpearson - for short trades MACD has to be positive in the candle before the signal candle i.e. it has to be decreasing in the value and the previous candle cannot be negative per Cowbunga system. Hope this helps.