Cowabunga System Update: Friday 06/08/07

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Main Trend

Current Trend= The trend remained down the entire day.

I only looked for short trades.

Today’s Surf

1:30 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 9780 with a stop at the most recent swing high which was at 9790. Since I was 30 pips away from the nearest 50 level I set my target for 9750.

3:00 am ET– My target was hit at 9750. The candle made a clean break of my target so I trailed my stop to 9750 and decided to go for my next target at 9700.

3:15 am ET– My 2nd target at 9700 was hit but the candle retraced back up and didn’t make a clean break of that level so I took my final profit at 9702.

Trade Result: +78 pips; R-multiple= 7.80

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