GBP/CHF Missed Wkly Pivot Trade *CLOSED*

Week 9

*UPDATED 7 March 2010*

Our Weekly pivot point of last week was not hit. Contrary to our previous trading method we will leave theses pending orders pending as valid targets. I’ve been doing some additional study and testing on our weekly contrarian trading and it appears to be beneficial to leave these positions active to be executed at a later date. Bear in mind that this historical data analysis was based on USD/JPY pair. We’ll watch and see how well this translates over to this pair until I can complete the applicable testing for this pair.

*UPDATE 19 March 2010*

We’ve updated our pending orders and stacked in 5 more position for a total of 10 entry orders now that the pair is trading well below these levels. Our trading plan now looks like this:

*UPDATED 12 April 2010*

Hello there!

This trade has been a month in the making, and low and behold all the action took place while I was vacation :-\

Taking a look at the chart you can see our position, I had removed them for the week while I was absent but I re-entered them here so its easier to see. Within the red boy you can see where the currency pair would have filled all our positions to profit target! We would have been stopped out from the looks of it within the pink circle. This trade however is now closed since it has returned to and met with the missed weekly pivot from last month.