Cowabunga System Daily Update: 04/12/07

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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 9761 with a stop at the most recent swing low which was at 9740. Since I was 39 pips away from the nearest 00 level I decided to set my target at 9800.

4:30 am ET– Unfortunately I am stopped out of my trade.

6:45 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 9762 with a stop at the most recent swing low which was at 9735. Since I was 38 pips away from the nearest 00 level I decided to set my target at 9800.

10:15 am ET– My target is hit and it looked like the Cable was struggling to stay at 9800 so I went ahead and took my final profit

Trade Result: -21 +38 = +17 pips; R-multiple= -1.00; 1.40

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  • Jnun2007

    hi BP,

    I understand the software that u use is Xtick, My question is how can I set up my charts to look like the cowabunga system? Iv’e read FAQ but I still need help.

    thanks

  • Jnun2007

    hi BP,

    I understand the software that u use is Xtick, My question is how can I set up my charts to look like the cowabunga system? Iv’e read FAQ but I still need help.

    thanks

  • pinetree

    I saw the buy trade at 1:15am — but I did not take it b/c histogram was already positve. I thought the rule is histogram has to be negative moving to positive. In this case it seems histogram was moving from positive to another positive — which should have invalidated the trade –as per cow bunga rules. Correct?

  • pinetree

    I saw the buy trade at 1:15am — but I did not take it b/c histogram was already positve. I thought the rule is histogram has to be negative moving to positive. In this case it seems histogram was moving from positive to another positive — which should have invalidated the trade –as per cow bunga rules. Correct?

  • bigpippin

    Jnun- What specifically are you having problems with in the setup?

    pinetree- If you stretch out your MACD histogram you’ll see that it actually was negative for 1 bar right before our signal. On my chart above, I didn’t stretch it out so it looks like it’s actually slightly positive. Go back to that signal and stretch out your MACD histogram and you’ll see that it was actually a valid signal. Happy trading!

  • bigpippin

    Jnun- What specifically are you having problems with in the setup?

    pinetree- If you stretch out your MACD histogram you’ll see that it actually was negative for 1 bar right before our signal. On my chart above, I didn’t stretch it out so it looks like it’s actually slightly positive. Go back to that signal and stretch out your MACD histogram and you’ll see that it was actually a valid signal. Happy trading!