Cowabunga System Daily Update: 03/19/07

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Main Trend

Current Trend= The trend remained up the entire day.

Today I only looked for long trades.

Today’s Surf

3:45 am 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. The entry was at the close of the candle which was at 9422 with a stop at the most recent swing low which was 9404. Since I was 28 pips away from the nearest 50 level I decided to set my target for 9450.

4:30 am ET- My target was hit at 9450. There was no significant break of this level so I took my final profit rather than trailing my stop.

Trade Result: +28 pips; R-Multiple= 1.55

It’s getting pretty gnarly again as we’re catching a good winning streak with today as the 4th consecutive win for the Cowabunga system. We are still slightly negative for the month but I’m still stoked considering how choppy the GBP/USD has been this month. Hopefully we can continue this righteous win streak and finish the month positive.

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10 comments

  1. dcpeter3

    There was another entry at 7:45 am on my CMS trading platform: rsi>50, sch midrange and rising, MACD negative and rising. Your 15-min chart has the candle black so I assume you saw the possibility. Your MACD is SIGNIFICANTLY different from mine. Xtick and/or CMS may have a computational error!

    Perhaps others might report the MACD values on their platforms so this possibility could be checked.

    Reply
  2. pinetree

    Yes I also saw the 7:45 am entry as I also use cms.
    There was also another buy entry at 11:24am –1.9457– however, that went one did not work out –did you happen to notice that one also?

    Reply
  3. dcpeter3

    Yes, pinetree, I saw it but since there was a down trend immediately before it …
    Thanks for confirming MACD; any ideas on the MACD differences?

    Reply
  4. dcpeter3

    There was another entry at 7:45 am on my CMS trading platform: rsi>50, sch midrange and rising, MACD negative and rising. Your 15-min chart has the candle black so I assume you saw the possibility. Your MACD is SIGNIFICANTLY different from mine. Xtick and/or CMS may have a computational error!

    Perhaps others might report the MACD values on their platforms so this possibility could be checked.

    Reply
  5. pinetree

    Yes I also saw the 7:45 am entry as I also use cms.
    There was also another buy entry at 11:24am –1.9457– however, that went one did not work out –did you happen to notice that one also?

    Reply
  6. dcpeter3

    Yes, pinetree, I saw it but since there was a down trend immediately before it …
    Thanks for confirming MACD; any ideas on the MACD differences?

    Reply
  7. Makiaveli

    I also had a second buy entry on oanda platform. It wasnt the first time that i recognized some differences on MACD between xtick an my platform.

    Reply
  8. Makiaveli

    I also had a second buy entry on oanda platform. It wasnt the first time that i recognized some differences on MACD between xtick an my platform.

    Reply
  9. Pip Surferpipsurfer

    Hey dudes! I know where the discrepancy is. After playing around with my MACD I realized why you are getting different pictures. The Histogram that you are seeing is not actually the difference between the 2 MACD lines. Rather, it is just a graphical representation of the slop of the faster MACD line. This is why you see a histogram bar and a line. The histogram is the faster MACD line and the line is the slower MACD line. I’m not sure if other charting packages allow you to show your MACD like this but if it doesn’t then it’s no big deal. All you have to do is make sure your fast MACD line is negative and gaining value for a long trade, and postive and losing value for a short trade. The only difference will be that you are watching a line while I am looking at a histogram chart. The values will be relatively the same. I apologize for the confusion and hope this helps everyone!

    Reply
  10. Pip Surferpipsurfer

    Hey dudes! I know where the discrepancy is. After playing around with my MACD I realized why you are getting different pictures. The Histogram that you are seeing is not actually the difference between the 2 MACD lines. Rather, it is just a graphical representation of the slop of the faster MACD line. This is why you see a histogram bar and a line. The histogram is the faster MACD line and the line is the slower MACD line. I’m not sure if other charting packages allow you to show your MACD like this but if it doesn’t then it’s no big deal. All you have to do is make sure your fast MACD line is negative and gaining value for a long trade, and postive and losing value for a short trade. The only difference will be that you are watching a line while I am looking at a histogram chart. The values will be relatively the same. I apologize for the confusion and hope this helps everyone!

    Reply

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