Fakeouts, fakeouts everywhere! Not a good forex trading week for the HLHB System no thanks to tons of fakeouts on EUR/USD and GBP/USD.
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD was on a tight range for most of the week, so it’s not exactly surprising that this trend-catcher system caught tons of fakeouts. Signal #10 hurt significantly since it was followed by a new crossover after a major report. Signal #9 would’ve yielded decent pips but it was invalidated by the RSI filter. By the end of the week the system is down by 92 pips. Bleh.
|1||Sell||1.0853||1.0853||0||There was no crossover|
|2||Buy||1.0874||1.0874||0||RSI was already above 50|
|5||Sell||1.0873||1.0873||0||There was no crossover|
|6||Buy||1.0882||1.0882||0||There was no crossover|
|7||Sell||1.0874||1.0874||0||There was no crossover|
|8||Buy||1.0880||1.0880||0||There was no crossover|
|9||Buy||1.0981||1.0981||0||RSI was already above 50|
|10||Sell||1.1089||1.1139||-50||Adjusted stop loss hit|
|11||Buy||1.1221||1.1221||0||RSI was already above 50|
|12||Sell||1.1195||1.1195||0||RSI was already below 50|
GBP/USD had a more interesting price action with a steady uptrend at the start of the week. Unfortunately, the pip-yielding signal was invalidated by the RSI filter. Signal #6 saved the day with its 146-pip win though, and canceled out most of the losses. Phew!
|2||Buy||1.5210||1.5210||0||RSI was already above 50|
|3||Buy||1.5461||1.5461||0||RSI was already above 50|
|4||Sell||1.5425||1.5425||0||RSI was already below 50|
|5||Buy||1.5392||1.5342||-50||Stop loss hit|
Not a bad week, I think. It wouldn’t hurt to have a trending week this week though. My fingers and toes are crossed! 🙂