Cowabunga System Daily Update: Monday, 10/11/2010

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Main Trend

Current Trend

The trend was up the entire day.

Today I only looked for long trades.

News events to watch for today :

  • None

Today’s Surf

4:00am 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 1.5954 with a stop at the most recent swing low at 1.5913. Since I was 46 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.6000.

Entry: Long at 1.5954 Stop: 1.5913 Target: 1.6000

10:45am EST- Unfortunately I was stopped out of my trade. (-41 pips)

entry2

Trade Result: -41 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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  • mraugustyn

    Ps,

    Looking at your track record pages in the archives it appears that these past two months have been the worst for the Cowabunga system since you started the blog. Would you agree with that?

    I happens to be a major bummer for me personally seeing how I went live right at the beginning of this downturn after demoing successfully for many months. Hopefully we will see a turn around soon.

    Best regards,

    Mr Augustyn

  • mraugustyn

    Ps,

    Looking at your track record pages in the archives it appears that these past two months have been the worst for the Cowabunga system since you started the blog. Would you agree with that?

    I happens to be a major bummer for me personally seeing how I went live right at the beginning of this downturn after demoing successfully for many months. Hopefully we will see a turn around soon.

    Best regards,

    Mr Augustyn