Pip Surfer

There was a Cowabunga signal at 6:15 am ET. The entry was at 9744 with a stop at the most recent swing low at 9718. Since the entry was near the 50 level (9750) I decided to target the same amount of pips I was risking which in this case was 26 pips.

This is the weekly recap of the Cowabunga System from January 15-19, 2007

After the consumer sentiment report there was a Cowabunga signal at 11:00 am ET. The entry was at the close of the candle which was at 9735 and the stop was at the most recent swing low which was at 9694.

There was a Cowabunga signal at 9:30 am ET today. The entry was at the close of the candle which was 9705 with a stop loss at the most recent swing low at 9661. My target was set for 9750.

There was a moving average crossover to the upside at 11:00 pm ET. All the indicators matched up but the only thing holding me back was the fact that my overall trend had changed to bearish, which means I was only looking for short trades at the time.

You can see that we had several moving average crossovers for long trades which are indicated by the black candles. However, because MACD was already positive it voided out our signals and kept us out of the market. In this case, it was a good thing we stayed out as we would’ve lost both trades.

This is a recap of the Cowabunga system from January 8-12, 2007

The Cowabunga system had a long signal at 10:45 pm ET last night. The entry was at 9444 with a stop at 9425. Since the entry was right below the 50 level, I decided to go for the same amount of pips I was risking, which in this case was 19 pips. I rounded up and set my target for +20 pips at 9464, which was hit at 11:45 pm ET.

The Cowabunga system produced a short signal at 2:15 AM ET. The entry was at 9325 with a stop at 9347. My initial target was for 9300. Unfortunately the trade did not go my way and I was stopped out at 2:45 AM ET.

We had no clear trend today as our moving averages crossed down, then up, then back down again. As a result there were no trades in this choppy ocean!