Cowabunga System Daily Update: 03/20/07
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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
1:00 am ET - 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 which was at 9454 with a stop at the most recent swing low which was 9432. Since I was 46 pips away from the nearest 00 level I decided to set my target for 9500.
5:15 am ET- Unfortunately before that big Cable rally, I was stopped out!
Trade Result: -22 pips; R-Multiple=-1.00
It was a bummer missing that huge wave but I know the pips will come to me if I just stick to my rules.
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Archived Comments (2)
Forex Blog: Pip My System
Don't be bummed about being stopped out. I moved my SL before heading to bed last night to lock in 'part' of my profits and well, it triggered my SL and then UP, UP, ans AWAY. The funny part of the whole thing; I woke up by myself about 10 minutes AFTER it had happened and had this burning desire to go check the computer. I was trying for a PT of 1.9501 which would have been exactly 50 pips for me. I am super bummed as looking at the chart now; it has a nice almost 200 pips rally.
Agh! I spotted this one using the system too and got stopped out in the same place... bummer!