Cowabunga System Daily Update: Thursday, 09/16/2010

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


 

Main Trend

Current Trend

The trend was up the entire day.

Today I only looked for long trades.

News events to watch for today :

Today’s Surf

3:00am EST- 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 at 1.5609 with a stop at the most recent swing low at 1.5582. Since I was 41 pips away from the nearest 50 or 00 level, I decided to put my target at 1.5650.

Entry: Long at 1.5609 Stop: 1.5582 Target: 1.5650

4:15am EST- My target wasn’t hit by this time. Since news was coming out at 4:30am EST I manually exited my trade. I got out at breakeven.

6:45am EST- 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 at 1.5614 with a stop at the most recent swing low at 1.5571. Since I was 36 pips away from the nearest 50 or 00 level, I decided to put my target at 1.5650.

Entry: Long at 1.5614 Stop: 1.5571 Target: 1.5650

8:15am EST- My target wasn’t hit by this time. Since news was coming out at 8:30am EST I manually exited my trade. I got out at breakeven.

10:00am EST- There was a valid signal here but since it was a news candle I did not enter.

entry2

Trade Result: Breakeven (not including spread) R-Multiple: N/A

News events to watch for Friday:

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.

  • noobex

    Dude! I love this website and absolutely enjoyed the education materials.

    One question, what are the variable settings on cowabunga system? By that I mean the stochastics, MACD, RSI and the EMAs.

    Thanks in advance.

    Noobex

  • PipSniper420

    I know you dont include your spread for certain obvious reasons, but could you spend a moment talking about handling spread and incorporating it into a strategy. Thank you, and thank you for the vids.

    PipSniper420

  • noobex

    Dude! I love this website and absolutely enjoyed the education materials.

    One question, what are the variable settings on cowabunga system? By that I mean the stochastics, MACD, RSI and the EMAs.

    Thanks in advance.

    Noobex

  • PipSniper420

    I know you dont include your spread for certain obvious reasons, but could you spend a moment talking about handling spread and incorporating it into a strategy. Thank you, and thank you for the vids.

    PipSniper420

  • faithee

    i did not see today cowabunga system update it yesterday’s own it has been like that,or is our time not dsame.

  • faithee

    i did not see today cowabunga system update it yesterday’s own it has been like that,or is our time not dsame.

  • hemzer

    Hey cowabunga,

    The settings your have was from 2007, do they still work in 2010 markets or did you have many more tweaks over the years?

  • hemzer

    Cowabunga,

    One more question, All you trades seem based on the 15 in chart readings. Wanted to know what you use the 4 hr chart for?

  • hemzer

    Hey cowabunga,

    The settings your have was from 2007, do they still work in 2010 markets or did you have many more tweaks over the years?

  • hemzer

    Cowabunga,

    One more question, All you trades seem based on the 15 in chart readings. Wanted to know what you use the 4 hr chart for?

  • Nickemp

    noobex

    There is a link above the video each day that says

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

    Has the answers to your questions there

    Cheers

    Nic

  • noobex

    Aw! How careless of me, Thanks Nickemp. I see it now

  • Nickemp

    noobex

    There is a link above the video each day that says

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

    Has the answers to your questions there

    Cheers

    Nic

  • noobex

    Aw! How careless of me, Thanks Nickemp. I see it now