Kawabanga Watch 3/05/07

I have just read about the Kawabanga system illistrated in lesson 11 and I must say it sounds like the simplest yet possibly most effective system I have yet encountered.

Therefore to help spread the gospel of Kawabanga I will be reporting daily those currencies that are currently posing, or are soon to pose an excellent trading oppertunity. Note, I will only report on the major currency pairs, due to the insanely large spreads on the more exotic offerings. THis means only EUR,US,JPY,AUD,CAD,CHF,GBP

As of 8:34 PM eastern standard time [B]EUR/US[/B] 5 day SMA has crossed under its 10 day SMA,(actually happened today so the trend is still fresh) and Stochastic and RSI are headed south, but not yet in over sold.

I myself went short at 1.3095 with a stop/loss at 1.3125.

Also showing promising signs of breaking out in a positive rally is [B]US/CHF[/B] This currency is 1,2 days away from a possible breakout rally with Stoch as a severely oversold 14.97 and headed up, while RSI is at38.75 and headed north.

Good luck to all traders and may the pips turn in your favor.