Cowabunga System Daily Update: Wednesday, 04/04/2012

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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 :

Today’s Surf

12:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.

The entry was at the close of the candle at 1.5883 with a stop at the most recent swing high at 1.5892. Since I was 33 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5850.

Entry: Short at 1.5883 Stop: 1.5892 Target: 1.5850

1:15am EST- Unfortunately I was stopped out of my trade. (-9 pips)

2:30am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.

The entry was at the close of the candle at 1.5883 with a stop at the most recent swing high at 1.5896. Since I was 33 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5850.

Entry: Short at 1.5883 Stop: 1.5896 Target: 1.5850

3:15am EST- Unfortunately I was stopped out of my trade. (-13 pips). Although this same candle generated another short signal I did not enter because it was the candle that stopped me out of my last trade.

5:00am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down and MACD was positive and losing value. This was a valid entry.

The entry was at the close of the candle at 1.5874 with a stop at the most recent swing high at 1.5908. Since I was 24 pips away from the nearest 50 or 00 level I decided to put my initial target at 1.5850.

Entry: Short at 1.5874 Stop: 1.5908 Target: 1.5850

8:00am EST- My target wasn’t hit by this time. Since news was coming out at 8:15am EST, I decided to manually exit my trade. I exited at 1.5862. (+12 pips)

entry2

Trade Result: -9 -13 +12= -10 pips R-Multiple: -1.00; -1.00; 0.35

News events to watch for Thursday:

For a complete list of news events check out our Forex Economic Calendar.
Questions? Read the Cowabunga FAQ.

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2 comments

  1. Nguoixaque_lqt

    please, I’ve not RSI has an effect on your system. I’ve been watching your blog, MACD, held Stohastic role loc very good inmany, but RSI has a role very faint, please explain the role of RSI,on this system. thank you.

    Reply
  2. Missryan510

    Hello…I am on a ten day trial of the Xtick Professional software, and I have been trying to have Xtick send alerts to my phone with no success. Is SMTP server information, Port number, Use SSL?, Login, and Password needed to have alerts sent to my phone? I have called my internet service provider, who said to contact this software company. When I contact Xtick, the people are not very thorough with their responses which is very frustrating. How can I have alerts sent to my phone through text messaging? Please help!!!

    Reply

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