oorah! cowabunga does work! proved it to myself just now.been waiting to go long all day! not too clear on exit strategy though! i just closed the order when i felt it got high enough. if you wait for the 5 EMA to cross over again, it’s too late. what does anyone think about this?
hypnos63, you may want to stick this in the Cowabunga thread above (where it says Sticky in the thread list).
As far as the actual trade if you took any trade long today you were not following the Cowabunga System. All week you would have been looking for short setups.
There was a short signal today around 8:30 AM EST I think which netted me about 30 pips. But again, it was a short, not a long.
E
Also, the surfer does not take trades after 12pm EST.
I kinda fudge that one from time to time like today (just closed out 10 pips). Something to do with Friday afternoon beer. :o
eric the main trend on the 4hr chart turned today 12/21/2007 00.00 midday candle. this would be 0700 hrs EST. main trend has been slightly up.
yes we would have been looking for shorts all week but the trend turned today, at least on MT4. come back?
hi.its did you wait for the 5 EMA to re cross before your exit eric?
The last time the 5EMA crossed the 10EMA was back on 12/12. The 5EMA crossed under the 10EMA sometime on 12/13 and has been under on the 4HR chart since then.
The attachment shows the cross of the 5 over the 10 on 12/12 and the subsquent cross 5 under 10 on 12/13. The cross on 12/13 under also had an RSI less than 50, stochastics lowerings as well as MACD lowering. I put two red horizontal lines on the cross overs (the first being a cross above, the second being the cross under)
At least for me and FXDD.
No I use discretion. The 1.9810-1.9815 area has been good support and I was looking for a quick 15-20 pips.