Cowabunga System Daily Update: Monday, 09/20/2010

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

1:45am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD was negative and gaining value. This was a valid entry.

The entry was at the close of the candle at 1.5671 with a stop at the most recent swing low at 1.5656. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my target at 1.5700.

Entry: Long at 1.5671 Stop: 1.5656 Target: 1.5700

2:15am EST- Unfortunately I was stopped out of my trade. (-15 pips)

2:45am EST- There was a moving average crossover for a long trade. RSI was greater than 50, MACD was negative and gaining value but stochastics were still trending down. This cancelled out the signal and I did not enter.

7:30am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.

10:15am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.

entry2

Trade Result: -15 pips (Not including spread) R-Multiple: -1.00

News events to watch for Tuesday:

For a complete list of news events check out our Forex Economic Calendar.
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  • leelar

    I miss your Friday summary page for the week.

  • punta

    Not sure what day this vid is for, but its not Monday thats for sure :)

  • leelar

    I miss your Friday summary page for the week.

  • Phepi

    punta here is right link (I think it was a missclick :)) http://www.youtube.com/watch?v=lpCDrUUUafk&feature=player_embedded#!

  • punta

    Not sure what day this vid is for, but its not Monday thats for sure :)

  • ooo7ooo

    haha, i was sooooo lost for a minute there…

  • thirdpillar111

    been getting to understand the system. just one stupid question. after downloading the indicator file, how do i put it in the mt4 platform? also i noticed that it should be put in the “expert indicator” file. is this the same as “custom indicator” file? can’t wait to see the waves a little better, thanks for sharing your hard work with us.

  • Phepi

    punta here is right link (I think it was a missclick :)) http://www.youtube.com/watch?v=lpCDrUUUafk&feature=player_embedded#!

  • ooo7ooo

    haha, i was sooooo lost for a minute there…

  • thirdpillar111

    been getting to understand the system. just one stupid question. after downloading the indicator file, how do i put it in the mt4 platform? also i noticed that it should be put in the “expert indicator” file. is this the same as “custom indicator” file? can’t wait to see the waves a little better, thanks for sharing your hard work with us.

  • PipSurfer

    sorry about the misslink :/

  • PipSurfer

    sorry about the misslink :/