Cowabunga System Daily Update- Friday 05/18/07

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Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

Today’s Surf

12:45 am ET- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle which was at 9737 with a stop at the most recent swing high which was at 9746. Since I was 37 pips away from the nearest 00 level I set my target at 9700.

2:15 am ET- Unfortunately I was stopped out of my trade.

Trade Result: -9 pips ; R-Multiple= -1.00

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  • pipskweezergeezer

    Could you have entered a long trade later, the ‘Cowabunga’ method to me says so….?

  • pipskweezergeezer

    Could you have entered a long trade later, the ‘Cowabunga’ method to me says so….?