Cowabunga System Daily Update: Tuesday, 09/04/2012

If this is your first time visiting this blog, read this first! 

Main Trend

Current Trend

The trend was UP the entire day.

Today I only looked for long trades.

News events to watch for today :

Today’s Surf

2:30am EST- 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 at 1.5893 with a stop at the most recent swing low at 1.5882. Since I was only 7 pips away from the nearest 50 or 00 level (1.5900), I decided to go for the same amount of pips I was risking on the trade, which in this case was 11. This put my initial target at 1.5904.

Entry: Long at 1.5893 Stop: 1.5882 Target: 1.5904

3:15am EST- My target was hit. Price didn’t make a clean break so I went ahead and took my final profit. I exited at 1.5903. (+10 pips)

10:30am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up but MACD was already positive from the previous candle. This cancelled out the signal and I did not enter.

entry2

Trade Result: +10 pips R-Multiple: 0.90

News events to watch for Wednesday:

For a complete list of news events check out our Forex Economic Calendar.
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  • Phepi

    Hello PipSurfer, great as allways ;) will you make next time a video blog please , btw your system is awesome, much better then others what are selling for 4000+ usd (lol like this scam http://www.schooloftrade.com/i… ) and more, one more question you are trading this amazing system 5 days per week or is there some restrictions. Nice work keep going, Best regard Phepi

    • JJ6845616

      I would recommend not to trade on Monday with MA crossover systems.

      • Phepi

        why not on Monday?

    • Josh11

      That course is not a scam were you ever a member or just making it up.

      • Phepi

        4000 usd for such service is insane, this is my personal opinion ,system cowabunga is very solid and give you advantage over long time period and is free and works, that’s holy grail with proper money managment