Cowabunga System Daily Update: 03/30/07

If this is your first time visiting this blog, read this first!

Main Trend

Current Trend= The trend remained down until 12pm ET. After that the trend changed from down to UP.

I only looked for short trades all the way until 12pm ET. After 12 pm ET, I only looked for long trades.

Today’s Surf

1:45 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 9630 with a stop at the most recent swing high which was at 9655. Since I was 30 pips away from the nearest 00 level I decided to set my target at 9600.

3:15 am ET - My target was hit and it and at the time, it didn’t really make a clean break of 9600 so I went ahead and took my final profit.

Trade Result: +30 pips ; R-Multiple= 1.20

Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forums.