Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
Can you say fakeout? Thanks to a ranging environment, the HLHB Trend-Catcher System didn’t stand a chance. In fact, only two signals turned out to be winners while the rest were invalid or were losing trades. I guess this is expected when I use a trend catcher on a ranging chart.
|1||Sell||1.3591||1.3591||0||RSI was already below 50|
|3||Sell||1.3581||1.3581||0||RSI was already below 50|
|8||Buy||1.3606||1.3606||0||RSI was already above 50|
|11||Sell||1.3604||1.3604||0||RSI was already below 50|
|15||Buy||1.3630||1.3630||0||RSI was already above 50|
Much like in EUR/USD, GBP/USD was also in a tight range for most of the week. Signal #7 alleviated the losses a bit but by the end of the week the system still registered a 53-pip loss on Cable. Better luck next time!
|2||Sell||1.7017||1.7017||0||RSI was already below 50|
|3||Buy||1.7024||1.7024||0||RSI was already above 50|
|8||Sell||1.7026||1.7026||0||RSI was already below 50|