Cowabunga System Daily Update: Tuesday, 12/15/09

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Main Trend

Current Trend

The trend stayed up until 11am EST. From 7am – 11am EST, a new trend change candle formed and changed the trend from up to DOWN. After 11am EST, the trend remained down the rest of the day.

Today I only looked for long trades until 11am EST. After 11am EST, I only looked for short trades.

News events to watch for today :

  • 4:30am EST- UK CPI y/y
  • 8:30am EST- US PPI m/m
  • 9:00am EST- US TIC Long-Term Purchases
  • 9:15am EST- US Capacity Utilization Rate

Today’s Surf

2:30am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive. This was a valid entry.

The entry was at the close of the candle at 1.6308 with a stop at the most recent low at 1.6271. Since I was 42 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6350.

Entry: Long at 1.6308 Stop: 1.6271 Target: 1.6350

3:00am EST- Unfortunately I was stopped out of my trade.

entry2

Trade Result: -37 pips (NOT INCLUDING SPREAD) R-Multiple: -1.00

News events to watch for tomorrow:

  • 4:30am EST- UK Claimant Count Change
  • 8:30am EST- US Core CPI m/m

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.

2 comments

  1. fxfix

    Hi Pip Surfer, wasn’t there another entry today at 11:45 AM?
    Please check today’s posted video. Seems to be last Thursday’s. Is there a video for Yesterday (Monday)?

    Thanks a lot!

    Reply
  2. fxfix

    Hi Pip Surfer, wasn’t there another entry today at 11:45 AM?
    Please check today’s posted video. Seems to be last Thursday’s. Is there a video for Yesterday (Monday)?

    Thanks a lot!

    Reply

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