Cowabunga System Daily Update: 05/07/07

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

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. However, stochastics were not trending up which negated the signal. No entry.

5:30 am ET– There was a moving average 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 9963 with a stop at the most recent swing low at 9959. Since I was 37 pips away from the nearest 00 level I decided to put my target at 2.0000.

6:45 am ET– Unfortunately I was stopped out of my trade

10:45 am ET– There was a moving average crossover for a long trade. However, stochastics were not trending up which negated the signal. No entry.

Trade Result: -4 pips ; R-Multiple= -1.00

Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forums.