Cowabunga System Daily Update: Thursday, 12/17/09

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Main Trend

Current Trend

The trend stayed up until 3am EST. From 11pm – 3am EST, a new trend change candle formed and changed the trend from up to DOWN. After 3am EST, the trend remained down the rest of the day.

Today I only looked for long trades until 3am EST. After 3am EST, I only looked for short trades.

News events to watch for today :

  • 4:30am EST- UK Retail Sales m/m
  • 6:00am EST- UK CBI Realized Sales
  • 8:30am EST- US Unemployment Claims
  • 10:00am EST- US Philly Fed Manufacturing Index

Today’s Surf

No trades today

entry2

Trade Result: +0 pips R-Multiple: N/A

News events to watch for tomorrow:

  • 4:30am EST- UK Public Sector Net Borrowing

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.

10 comments

  1. mabidashraf

    Hi Pipsurfer, Thanks for appreciation in the video and comments. I am glad that I can help the readers of your blog and thanks for all your help in the past. Regards. Abid

    Reply
  2. mabidashraf

    Hi Pipsurfer, Thanks for appreciation in the video and comments. I am glad that I can help the readers of your blog and thanks for all your help in the past. Regards. Abid

    Reply
  3. sriloba

    Hi Pipsurfer, Thanks for your wonderful strategy of forex analysis. By using the cross of EMAs on 4h chart and confirmed by the oscillators we can determine the trend in day to day trading and grap 30 to 45 pips because we take a signal on the 15 min chart. By the way the hedge funds like to enter a trade in 4h chart. If we take a trend from 4h chart then we go with the flot. So to make more solid analysis on 4h chart I add 30 EMA and 60 EMA, they represent 5 EMA and 10 EMA on daily chart respectively. For example,on 4h chart, for the short trade I like too see 30/60 EMAs cross down first then follow by the death cross of 5/10 EMAs confirmed by the STOCHASTIC and RSI. For me 30/60 EMAs repesent the market action and 5/10 EMAs represent the price action. When the market action and price action are aligned so we have a better chance of success. But sometime we see 5/10 EMAs cross in the opposite direction of 30/60 EMAs cross confirmed by the oscillators. This might be the counter trend or simply price retraces on the daily chart. We can consider a trade set up but just be careful because trend won’t last long.
    The rest of the strategy is wonderful. Oh, concerning MACD in the 15 min chart, your way how to use MACD to valid a trade is simply the best and conservative. I like to use MACD in 15 min chart in two ways. One way from your strategy and the other by MACD cross first and follow by the STOCHASTIC cross in the same direction of the MACD cross
    so all are aligned and in harmony. Oh, almost forgot to mention a little detail. I add 80 EMA and 160 EMA on 15 min cchart they represent 5 EMA and 10 EMA on the 4h chart respectively. So in sum, for a short trade, we have a down bias on 4h chart when all confirmed and take a down signal on the 15 min chart when all confirmed also. By the way I trade AUD/USD, aussie, starting the asian session to close of London session.

    Thanks you all fellows traders and Pipsufer

    Reply
  4. sriloba

    Hi Pipsurfer, Thanks for your wonderful strategy of forex analysis. By using the cross of EMAs on 4h chart and confirmed by the oscillators we can determine the trend in day to day trading and grap 30 to 45 pips because we take a signal on the 15 min chart. By the way the hedge funds like to enter a trade in 4h chart. If we take a trend from 4h chart then we go with the flot. So to make more solid analysis on 4h chart I add 30 EMA and 60 EMA, they represent 5 EMA and 10 EMA on daily chart respectively. For example,on 4h chart, for the short trade I like too see 30/60 EMAs cross down first then follow by the death cross of 5/10 EMAs confirmed by the STOCHASTIC and RSI. For me 30/60 EMAs repesent the market action and 5/10 EMAs represent the price action. When the market action and price action are aligned so we have a better chance of success. But sometime we see 5/10 EMAs cross in the opposite direction of 30/60 EMAs cross confirmed by the oscillators. This might be the counter trend or simply price retraces on the daily chart. We can consider a trade set up but just be careful because trend won’t last long.
    The rest of the strategy is wonderful. Oh, concerning MACD in the 15 min chart, your way how to use MACD to valid a trade is simply the best and conservative. I like to use MACD in 15 min chart in two ways. One way from your strategy and the other by MACD cross first and follow by the STOCHASTIC cross in the same direction of the MACD cross
    so all are aligned and in harmony. Oh, almost forgot to mention a little detail. I add 80 EMA and 160 EMA on 15 min cchart they represent 5 EMA and 10 EMA on the 4h chart respectively. So in sum, for a short trade, we have a down bias on 4h chart when all confirmed and take a down signal on the 15 min chart when all confirmed also. By the way I trade AUD/USD, aussie, starting the asian session to close of London session.

    Thanks you all fellows traders and Pipsufer

    Reply
  5. fxfix

    Hi All,

    Was there a full signal for an entry at 6:00 AM EST? It was not clear in my screen if Stochastics was facing down.
    Thanks!

    Reply
  6. fxfix

    Hi All,

    Was there a full signal for an entry at 6:00 AM EST? It was not clear in my screen if Stochastics was facing down.
    Thanks!

    Reply

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