Happy New Year!

along with the holiday distractions, I'm also in the middle of moving my family from Russia to the UK and I haven't had the opportunity to get down and update this blog. my apologies. however, I would like to thank every reader of colt on candles and wish you the very best for 2009.

let's just wrap up last week's calls: two good, two bad with the total rating a smidgeon into negative territory. here's how it breaks down:

eur/usd: the candles were bearish on the euro. however, it opened at 1.3914 and closed at 1.4057, that's 143 pips up on the week. This gives us a forecast rating of -1.02%

usd/chf: I thought the candles were dollar bulls on the swissy too. however, you may recall that I was more luke-warm about this signal than the euro one. in retrospect, I think that this was due to the ratio between the candle body length to the shadow length. in future I will only accept a long shadow signal if the shadow is longer than the body. anyhow, the reading/signal was duff and usd/chf fell some 360 pips, leaving us with a forecast rating of -3.37%

gbp/usd: sterling fell like the candles said it would. After opening the week at 1.4942, it closed at 1.4653, a drop of 289 pips. this leaves us with a rating of +1.97%

usd/jpy: as the candles suggested, the dollar opened the week at 89.14 and rose to 90.67, a 153-pip rise and a rating of +1.69%

all in all that gives us a forecast rating of -0.73 for the week, and makes our running total (12.63 - 0.73=) +11.90

since this week is almost over, I won't post any calls. I will be back, bright and breezy, for the first full week of 2009.

Happy New Year!