Friday, March 13, 2009


20090313 The question on the last long trade on gbpusd is why we held on to the long when it went against us? Two reasons:
1 The stop parameter was still intact and according to the money management plan.
2 There was a pattern that suggested a Wolffe wave in play, with the reversal off point 5 to retest the upper trendline, but in this case the follow through was more than that.(see attached chart)

EURUSD chart
USDJPY chart
GBPUSD chart
USDCHF chart