About Pip My System

Dude! So you've read just about everything you could possibly get your hands on about the Forex. Now you want to get your feet wet but aren't sure where to start. Well then this blog is for you! Follow along as I take a simple forex trading system and apply it to an unsimple market. If you're new to the blog you should read this first.

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Cowabunga System Daily Update: 03/30/07

Posted 6 years ago | 12:23 PM | 01 Apr 2007 | Comments

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.