Cowabunga System Daily Update: Friday 05/25/07

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

10:00 am ET– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle which was at 9858 with a stop at the most recent swing low which was at 9836. Since I was 42 pips away from the nearest 00 level I set my target at 9900.

3:45 pm ET– I closed my trade out at the end of the day at 9842.

Trade Result: -16 pips ; R-Multiple= -0.72

Questions? Read the Cowabunga FAQ.
Want to discuss the Cowabunga System? Visit our Forums.
Like what you've read?
Join over 45,000 other traders who get our newsletter. Tutorials, EAs, chart setups, free forex trading systems, and more!