Cowabunga System Daily Update: 04/05/07

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Main Trend

Current Trend= The trend remained up until 8am ET. From 4am-8am ET, a new trend change candle formed and changed the trend from up to DOWN. After 8am ET, the trend remained down for the rest of the day.

I only looked for long trades until 8am ET. After 8am ET, I only looked for short trades.

Today’s Surf

3:00 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 9755 with a stop at the most recent swing low which was at 9733. Since I was 45 pips away from the nearest 00 level, I decided to set my target for 9800.

4:30 am ET– Unfortunately I am stopped out.

Trade Result: -22 pips; R-Multiple= -1.00

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