Cowabunga System Daily Update: Monday, 06/20/11

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Main Trend

Current Trend

The trend was down the entire day.

Today I only looked for short trades.

News events to watch for today :

  • None

Today’s Surf

11:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative from the previous candle. This cancelled out the signal and I did not enter. Also because it was right before 12 noon EST I still would not have entered even if it was a valid signal.

entry2

Trade Result: +0 pips R-Multiple: N/A

News events to watch for Tuesday:

For a complete list of news events check out our Forex Economic Calendar.
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4 comments

  1. Gargrave67

    dude -i need your help.. i am lovin the system but something has gone amiss. i was looking for a long today ???? as i thought i there was a legit cross on the

    16.00 close candle..

    I have watched every single video on you tube…  WTF have i missed here????

    help

    p

    Reply
    • Gargrave67

      sorry i will rephrase the post. I was indeed looking for short all day except the cross on the 12 candle. Can anyone enlighten me as to why this cross was not valid ??

      pleeeeeezzzzzzzeeeee

      Reply
      • Pip Surferpipsurfer Post author

        The candle has to close before a new trend change can be confirmed.  In this case the 8am-12pm EST candle was the trend change candle that changed the trend from down to up.  However because the candle closed at 12pm EST that would be the official time when the trend is changed UP.  Since we stop looking for trades at 12pm EST this wouldn’t affect us at all.  Does that make sense?

        Reply
        • Gargrave67

          cheers for replying PS

          Yes i think i may have missed that nugget of valuable info. I am also opertaing GMT and the afternoon session bears fruit sometimes …

          Ok , let me try – signals on 08-12.00 EST invalid on 4 hr? then  we rewind the charts back to this point and check for crossover to begin our next daily session?

          Are there any other signal /time criteria i may have missed?

          whilst you are here could point me right regrading my macd on oanda . It is not the expo as suggested by your criteria. Will it make a lot of difference ?if yes , what can i do to alter it(i like oanda and would prefer to remain on their charts)

          I am also on full stoch as slow and simple does not have the 3 settings required-again is this going to cause me issues?

          appreciate your blog dude and keep up good work

          p

           

          Reply

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