Not a good week for the HLHB Trend-Catcher System, as tight forex trading conditions brought out lots of fakeouts. Eep!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
As you can see from the chart, the system had opportunities to bag pips early in the week. Unfortunately, the RSI filter had invalidated the trades. Even more unfortunately, the RSI filter didn’t work when the pair was actually ranging tightly. This caused tons of fakeouts that led to a 103-pip loss on the pair for the week. Yipes!
|1||Sell||1.0878||1.0878||0||RSI was already below 50|
|2||Buy||1.0839||1.0839||0||There was no crossover|
|3||Sell||1.0816||1.0816||0||RSI was already below 50|
|5||Sell||1.0733||1.0733||0||RSI was already below 50|
|10||Buy||1.0767||1.0767||0||RSI was already above 50|
Like in EUR/USD, Cable also saw ranges for most of the week. But although there were fakeouts, the system managed to validate the last signal, which yielded a 66-pip gain and reduced the overall weekly losses to just 38 pips. Curse you, ranging week!
|1||Buy||1.4887||1.4887||0||RSI was already above 50|
|2||Sell||1.4866||1.4866||0||RSI was already below 50|
|3||Sell||1.4763||1.4763||0||RSI was already below 50|
|4||Buy||1.4830||1.4830||0||RSI was already above 50|
|6||Buy||1.4841||1.4841||0||RSI was already above 50|
Fingers and toes crossed for a more volatile week this week. How about you? Did you put on trend trades on EUR/USD or GBP/USD last week? 🙂