A pretty good forex trading week for the HLHB System as it gained tons of pips from EUR/USD, while only losing a couple from GBP/USD.
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD traded on a super tight range at the start of the week until weaker-than-expected U.S. reports inspired a bit of risk aversion. The trend continued throughout the week in anticipation of a strong NFP report and eventually the pair fell to the 1.0700 mark when the payrolls numbers came out better-than-expected. The HLHB System got lucky from signals #5 and #9 as they caught the entirety of the two big moves throughout the week. By week’s end the system was up by a net of 155 pips from EUR/USD. Nice!
Much like in EUR/USD, Cable traded tightly in anticipation of the NFP report. Unlike in EUR/USD though, there were no other catalysts to inspire volatility ahead of the actual release. Signal #9 would have caught almost all of the pair’s end-of-week downtrend if not for the RSI filter. The signal got invalidated and the system ended up with a net loss of 23 pips by Friday. Boo!
That’s it for the HLHB System this week! Got any questions about the mechanical system?