Last week’s forex trading yielded mixed results for the HLHB System, as it lost pips on EUR/USD but gained pips on GBP/USD.
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD failed to get momentum after it rose to the 1.1300 area at the beginning of the week. The ranging environment yielded a lot of fakeouts for the HLHB System, which eventually added up to a 72-pip loss for the week. Boo!
|2||Sell||1.1237||1.1237||0||RSI was already below 50|
|3||Buy||1.1337||1.1337||0||RSI was already above 50|
|5||Buy||1.1371||1.1371||0||RSI was already above 50|
|6||Sell||1.1336||1.1336||0||RSI was already below 50|
GBP/USD’s price action was more trend-y than EUR/USD’s. The pair rose to the 1.5200 area where it found intraweek resistance. Its move back to the 1.5000 support was also a good opportunity for intraday trends. In fact, signal #8 could have yielded pips for the system, if only it wasn’t invalidated by the RSI filter. Still, the system gained a cute 13 pips from GBP/USD by the end of the week.
|1||Sell||1.4994||1.4994||0||RSI was already below 50|
|2||Buy||1.5022||1.5022||0||RSI was already above 50|
|4||Buy||1.5120||1.5173||53||Adjusted stop loss hit|
|5||Buy||1.5184||1.5184||0||RSI was already above 50|
|6||Sell||1.5160||1.5160||0||There was no crossover|
|7||Buy||1.5186||1.5186||0||There was no crossover|
|8||Sell||1.5164||1.5164||0||RSI was already below 50|
|9||Buy||1.5048||1.5040||9||Adjusted stop loss hit|
Looking forward to seeing more trends! If only there was a catalyst for big moves…