Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
As I mentioned in my last update, the RSI crossover condition is doing a great job at keeping out fakeouts. Unfortunately, the filter also invalidated some good signals for this week. The fifth signal, for example, could have given us a 116-pip win if the RSI condition hadn’t invalidated it. Still, a 1-pip loss isn’t so bad.
|1||Buy||1.3879||1.3879||0||RSI was already above 50|
|2||Buy||1.3927||1.3927||0||RSI was already above 50|
|4||Buy||1.3918||1.3918||0||RSI was already above 50|
|5||Sell||1.3871||1.3871||0||RSI was already below 50|
This is what I’m talking about! Although GBP/USD only threw out 3 signals throughout the week, the third one more than made up for the lack of action. In fact, the 96-pip win could go a long way at erasing some of the system’s losses from the previous weeks!
|1||Sell||1.6874||1.6874||0||RSI was already below 50|
|2||Buy||1.6965||1.6965||0||RSI was already above 50|
Hoping for a better week next week!