Fakeouts, fakeouts everywhere! This wasn’t a good week for the HLHB System, as both EUR/USD and GBP/USD saw tons of fakeouts. Yikes!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD was in Rangeville for most of the week, so the HLHB System had a hard time finding trendy trades. Signal #6 would have been perfect if it had only shown a sell signal instead of signaling a long trade. Unfortunately, all valid signals turned out to be fakeouts and by the end of the week, the system was down by 71 pips on EUR/USD. Boo!
|1||Sell||1.2668||1.2668||0||RSI was already below 50|
|4||Buy||1.2746||1.276||0||RSI was already above 50|
|6||Buy||1.2739||1.2739||0||RSI was already above 50|
|7||Sell||1.2646||1.2646||0||RSI was already below 50|
|8||Buy||1.2622||1.2622||0||There was no crossover|
|9||Sell||1.2605||1.2605||0||RSI was already below 50|
Like in EUR/USD, GBP/USD was also trending for most of the week. Unlike the previous pair though, the system had signal #10 that yielded pips and was able to offset most of the week’s losses. Still, the fakeouts ruled the system’s performance and resulted to a 23-pip loss for the week.
|1||Sell||1.6113||1.6113||0||There was no crossover|
|2||Buy||1.6124||1.6124||0||There was no crossover|
|3||Buy||1.6127||1.6127||0||RSI was already above 50|
|4||Sell||1.6119||1.6119||0||There was no crossover|
|5||Buy||1.6167||1.6167||0||There was no crossover|
|6||Sell||1.6132||1.6132||0||There was no crossover|
|7||Buy||1.6140||1.6140||0||RSI was already above 50|
|11||Sell||1.5996||1.5996||0||RSI was already below 50|
|14||Buy||1.5995||1.5995||0||RSI was already above 50|
Fingers crossed for a better week next week!