Cowabunga System Daily Update: 04/03/07
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Main Trend
Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
Today's Surf
2:00 am ET - 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 which was at 9786 with a stop at the most recent swing low which was at 9770. Since I was only 14 pips away from the nearest 00 level, I decided to go for a couple more pips and go for the same amount of pips I was risking, which in this case was 16. This put my target at 9802.
2:15 am ET- My target was hit. There was not a clean break so I took my final profit.
Trade Result: +16 pips; R-Multiple= 1.00
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Related Posts:
- Cowabunga System Daily Update: Friday 06/01/07 14:24 04 June 2007
- Cowabunga System Daily Update: 07/10/07 17:00 10 July 2007
- Cowabunga System Daily Update: 06/04/07 15:31 04 June 2007
- Cowabunga System Daily Update: 06/12/07 16:25 12 June 2007
- Cowabunga System Daily Update: 04/25/07 16:49 25 April 2007
Comments (4)
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Forex Blog: Pip My System
I see you changed your MACD settings to the default as most of
other people have. Now you need to to take that MACD question from FAQs to avoid confusion
ahh yes! Good call eyecelll. Thanks for reminding me dude! :)
QUESTION-- What is the "CABLE"
The Cable is a nickname for the GBP/USD. Sorry for the confusion :)