Fakeout alert! Thanks to tight trading ranges for both EUR/USD and GBP/USD, this trend-catcher system lost a few pips throughout the forex trading week. Here are the details.
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD’s range this week was so tight that the pair closed almost near its weekly open price. The only action happened some time in the middle of the week, when some U.S. traders likely took profits ahead of the Thanksgiving holidays. By the end of the week the system had lost a net of 55 pips from EUR/USD. Could’ve been worse, I guess.
Like in EUR/USD, trading was tight for Cable. Unlike the former though, there was actually ONE winning signal. Signal #10 helped recover 51 pips from all the losses and brought the total down to only 106 pips by the end of the week. Kinda stings, but not too bad considering the obvious lack of trending action throughout the week.
The NFP week is next! Hope we see more valid (and winning) signals from both EUR/USD and GBP/USD then.
See ya and XOXO,