Cowabunga System Daily Update: 04/03/07

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

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

Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forums.
  • eyecelll

    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

  • eyecelll

    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

  • pipsurfer

    ahh yes! Good call eyecelll. Thanks for reminding me dude! :)

  • pipsurfer

    ahh yes! Good call eyecelll. Thanks for reminding me dude! :)

  • pekopkp

    QUESTION– What is the “CABLE”

  • pipsurfer

    The Cable is a nickname for the GBP/USD. Sorry for the confusion :)

  • pekopkp

    QUESTION– What is the “CABLE”

  • pipsurfer

    The Cable is a nickname for the GBP/USD. Sorry for the confusion :)