Cowabunga System Daily Update: 04/11/07

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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

1:15 am ET – 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 which was at 9754 with a stop at the most recent swing low which was at 9738. Since I was 46 pips away from the nearest 00 level I decided to set my target at 9800.

3:15 am ET- My target at 9800 was hit and because it didn’t make a clean break of the 9800 level I decided to take my final profit there.

5:45 am ET- 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 which was at 9785 with a stop at the most recent swing low which was at 9771. Since I was 15 pips away from the nearest 00 level I decided to set my target at 9800.

6:30 am ET- Unfortunately I am stopped out

10:15 am ET- 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 which was at 9774 with a stop at the most recent swing low which was at 9756. Since I was 26 pips away from the nearest 00 level I decided to set my target at 9800.

1:45 pm ET- Since the FOMC minutes are coming up at 2pm, I ended up closing my trade out before the release at 9765.

2:00 pm ET- FOMC minutes released!

Trade Result: +46 -14 -9= +23 pips; R-multiple= 2.87, -1.00, -0.50

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  • olliebean

    What MACD settings are you using? I have the defaults in MetaTrader – 12,26,9 – as specified in your description of the system, but my MACD graph looks very different from yours.

  • olliebean

    What MACD settings are you using? I have the defaults in MetaTrader – 12,26,9 – as specified in your description of the system, but my MACD graph looks very different from yours.