Death by fakeout! Okay, I wouldn’t call it “death,” but last week’s forex fakeouts sure are huge pains in the butt!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD started the week on a tight range before a couple of worse-than-expected reports from Uncle Sam lessened expectations of a 2015 rate hike by the Fed and pushed the dollar lower across the board. Unfortunately for the HLB System, signal #6 didn’t play out its full potential after it got stopped out by the adjusted stop loss. Boo! By the end of the week the system lost a net of 79 pips from EUR/USD.
Much like EUR/USD, Cable started the week on a tight range before a burst of volatility provided potential trend action. Unfortunately for this trend-catcher system though, most of the signals turned out to be fakeouts or were curtailed by the adjusted stop loss strategy. Hmm. Is it time to rethink the 50-pip trailing stop loss rule?
Really hoping for a better turnout for the HLHB next week. 🙂