Blocked by the RSI! The HLHB System could have caught decent forex signals last week if not for the RSI filter. Here are updates on EUR/USD and GBP/USD!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
The HLHB system threw out a couple of fakeouts early in the week when EUR/USD was still in a tight range. Unfortunately, the system didn’t catch a break when its last signal, the one right before the big intraweek downtrend, was invalidated by the RSI filter. By the end of the week the system was down 4 pips on EUR/USD.
|2||Sell||1.1189||1.1189||0||RSI was already below 50|
|3||Sell||1.1172||1.1172||0||RSI was already below 50|
|4||Buy||1.1185||1.1185||0||There was no crossover|
|5||Sell||1.1176||1.1176||0||RSI was already below 50|
Like in EUR/USD, the system also had a hard time validating signals that would have been profitable. More specifically, signals #7 and #9 would have gained a good number of pips if not for the RSI filter. By the end of the week the system saw a 29-pip loss on Cable. Talk about missed opportunities!
|1||Sell||1.5427||1.5427||0||RSI was already below 50|
|2||Buy||1.5414||1.5414||0||RSI was already above 50|
|5||Sell||1.5369||1.5369||0||RSI was already below 50|
|7||Sell||1.5367||1.5367||0||RSI was already below 50|
|9||Sell||1.5236||1.5236||0||RSI was already below 50|
At least we know that the system CAN spot the start of trends. Maybe I just need to refine the filter? What do you think?