A pretty mixed forex trading week for this trend-catcher system, as it lost pips on EUR/USD but gained a lot from GBP/USD. Here are the deets!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
As you can see from the chart below, EUR/USD’s range at the beginning of the week didn’t do any favors for the HLHB. In fact, we saw tons of fakeouts throughout the week. Luckily, signal #10 saved the day (or week) and mitigated the system’s loss to only 10 pips. Phew!
Unlike EUR/USD, Cable showed a nice uptrend at the beginning of the week. If I’m not mistaken, this happened just a couple of days ahead of the MPC monetary policy decision. Apparently, some traders had unwound their short GBP positions ahead of the event. We only saw 4 signals, 3 of them valid from the system. Luckily, all valid signals turned out to be winners and contributed to a net gain of 182 pips by the end of the week. Woot! Woot!
Will last week’s price action print better results for this trend-catcher system? I got my fingers crossed!