Hi tonymand, i mainly use the 4hr MA’s for trade direction and rely less on the 4hr stoch/RSI as a filter, although I will play with less on the table if the 4hr stoch/RSI suggests exhaustion on that TF.
Hi ChowClown,
Yes, for general trend. Reason for shorting $/y was break of low today and low of 21st. Break of S1, Macd,RSI,Stochs all giving good pointers. Went short @ 114.54 with a break even stop now in place (hurrah!). 1st target 114.25.
Nice low risker - hope you’ll stick around…i enjoyed posts from a cabletrader elsewhere, you’re not aka Buk by any chance?? 
Not me, I’m afraid!
PS Target hit.
I am looking at a long trade on Eur/Usd @ 1.4110. Tight stop. I am mindful however of news announcements.
(I have Multiple Trading Personality Disorder today! Actually, I am off sick…altogether now…aaaaahh!)
…my earlier cable short nearly at SL…
edit: will exit at 13:55 regardless. Won’t risk the potential slippage at the 14:00 (UK time) news.
…stopped out on cable for -45 and with the 37.7 on GBP/JYP earlier, minus 7.3 pips on the day…next!
Cable loss notes to self :o
Although Cowabunga per se doesn’t use Oscillator divergence, cabletrader’s earlier post made me think - i should be making the method my own and adapting it more in line with my risk profile.
The MACD divergence cabletrader mentioned is highlighted in the pic below along with a couple of other basic notes. The trendline break area (on the pic) is probably a more reasonable stoploss area.
Well if you are going to take other things into account cable had already bounced off an area of significant support at 2.0080. Problem as always is the more things you take into account the more difficult the method.
[QUOTE=cabletrader;23338]I am looking at a long trade on Eur/Usd @ 1.4110. Tight stop. I am mindful however of news announcements.
QUOTE]
Target 1.4153 having locked in some profit.
Was this a cowabunga setup on your chart?
[quote=“ChowClown,post:212,topic:706”]
Er…um…sort of. Not precisely. :o
I have some defence m’lud. I was looking at all the indicators and everything was pointing in the right direction, except 4hr MacD (well known Scotsman…oh please yourselves!). I was also wanting it to break the fib expansion level @ 1.4110.
I accept this may not be the appropriate thread for trades that I am looking at, but I am not well, new to the site, have had too much of the childrens’ Calpol…
P.S. We teach our children to look left, then right, and left again when they want to cross the road. The same with charts (which have cowabunga on them).
Hi would it be possible for you tell me significance of 5 ema and 10 ema cross? As in what does it indicate? Why we should only wait till we have a cross. What�s the logic behind it. I understand what 5 and 10 ema is. But don�t understand the logic of cross.
Regards
Sheray 
Not difficult really. If a faster ema crosses to the upside then the trend is turning up and vice versa so it is a way of defining a trend change. However a well understood problems with ma’s are that they lag the price action. Because of the way they are calculated EMAs lag less than SMAs nevertheless other techniques give earlier signals. But beware the earlier the signal the more likely it is false. As with everything in this business a bit of a trade off really
[quote=“cabletrader,post:213,topic:706”]
you carry on m8 :)…just thought 'me Oanda chart was adrift - keep taking the pills!
Hey there I have just made a post for my GBP/JPY trade today:D check it out at: 301 Moved Permanently
Happy viewing
Great work. 2 questions how many ema is your that thick yellow line. And also you are using 14 RSI, instead of 9 ? Any reason ?
Thanks. And great work 274 pips
Jaguar
Hi Thanks Tonymand
Btw when we are looking for cross do we look for in 15 min chart or 4 hr. or look for chart on which we wana bet. meaning depending on time frame we wana trade. Does it work for both 15 min chart and 4 hr trade. Where does cowabunga system works best.
Thanks
It is one thick 30 Simple Moving Average (SMA). These parameters are recommended to trade GBP/JPY effectively. If you use 9… it gives you false entry signal.
