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 :
- 4:30am EST- UK Retail Sales
- 8:30am EST- US PPI
- 9:00am EST- US TIC
- 10:00am EST- US Philly Fed Survey
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.
Trade Result: Breakeven (not including spread) R-Multiple: N/A
News events to watch for Friday:
- 8:30am EST- US CPI
- 9:55am EST- US Univ. of Mich Consumer Sentiment
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.
Related Posts:
- Cowabunga System Daily Update: Wednesday, 09/15/2010 12:52 15 September 2010
- Cowabunga System Daily Update: Thursday, 09/30/2010 12:37 30 September 2010
- Cowabunga System Daily Update: Thursday, 09/23/2010 14:06 23 September 2010
- Cowabunga System Daily Update: Wednesday, 09/22/2010 12:31 22 September 2010
- Cowabunga System Daily Update: Thursday, 09/09/2010 14:52 09 September 2010
Archived Comments (7)
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
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
i did not see today cowabunga system update it yesterday's own it has been like that,or is our time not dsame.
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?
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?
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
Aw! How careless of me, Thanks Nickemp. I see it now