Cowabunga System Daily Update: 06/06/07
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Main Trend
Current Trend= The trend remained up the entire day.
Today I only looked for long trades.
Today's Surf
7:15 am ET, 9:00 am ET, 12:45 pm ET- At these times we had moving average crossovers for long trades, but in all 3 cases, MACD was already positive from the previous candle which cancelled out the signals. No entries!
Trade Result: +0 pips
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Archived Comments (3)
Forex Blog: Pip My System
Can you tell me what the green MACD is? On my chart I have the MACD which is your blue line, the signal which is your red line and the MACD-signal which I think is your green histogram. My MACD-signal is calculated by subtracting the red line from the blue line but I thought that this system used the MACD (blue line) as the signal. This is what was used when the system was first set up by BigPippin so why has it changed?
Good question bsh277. People noticed that their MACDs were different from Big Pippins. He realized that he was using the blue line as his signal instead of the actual MACD histogram. It wasn't really a big deal but it made his histogram different from everyone else which caused a lot of confusion. It's not a big deal though. After looking at both settings, you yield almost the exact same results. Happy trading dude!
But which should be used for a signal to go long or short and why? I ask as there are many times when one shows a signal and the other doesn't like in the chart above, the blue line gave a buy signal but the histogram didn't as it was already positive.