Cowabunga System Daily Update: 03/28/07
If this is your first time visiting this blog, read this first!
Main Trend
Current Trend= There was a new trend change candle from 12-4am ET which changed the trend from up to DOWN. After 4am ET, the trend remained down the rest of the day.
After 4am ET I only looked for short trades.
Today's Surf
11:00 am ET - There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle which was at 9643 with a stop at the most recent swing high which was at 9681. Since I was 43 pips away from the nearest 00 level I decided to set my target at 9600.
4:00 pm ET - My target was not hit and I manually closed out my trade. I exited at 9613.
Trade Result: +30 pips ; R-Multiple= 0.78
Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forums.
Related Posts:
- Cowabunga System Daily Update: 03/27/07 16:12 27 March 2007
- Cowabunga System Daily Update: 04/05/07 14:01 05 April 2007
- Cowabunga System Daily Update: 03/30/07 12:23 01 April 2007
- Cowabunga System Daily Update: 03/26/07 15:05 26 March 2007
- Cowabunga System Daily Update: 06/13/07 22:31 13 June 2007
Archived Comments (2)
Forex Blog: Pip My System
cool, its nice to see success before the markets usually get quiet after noon EST. MA seem like such an easy way to go, with other indicators to filter whipsaws.
Yea dude. The market has a mind of its own. You never know when it will move which is why I have my "pip" board in hand at all times. However, if I see an entry way past noon (like 1 or 2 pm ET) then usually I just let it go because by that time your chances of catching any movement are slim!