A pretty good forex trading week for the HLHB System, as it gained a couple of pips from both EUR/USD and GBP/USD despite the pairs’ ranging conditions last week.
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD traded on a tight range for most of the week, which might not be so bad if there weren’t so many fakeouts. Of the 15 signals only 9 of them were valid and only 2 were winning trades. Luckily, the gains from both winners were enough to offset the losses from 7 signals. By the end of the week the system was up by 59 pips on EUR/USD. Phew!
GBP/USD also saw the tight ranges that EUR/USD had though it didn’t have as many signals. Of the 5 signals only 1 was valid and, thankfully, it was a winner. Signal #5 gave 42 pips to the HLHB’s coffers while the other five signals fell victim to the RSI filter. By the end of the week the system was up by 42 pips on Cable. Not bad!
It’s NFP week this week, folks. Think we’ll see more volatile price action from EUR/USD and GBP/USD? I sure hope so! What are your plans for NFP Friday anyway?
P.S.: Remember to never risk more than 1% of a trading account on any single trade and to adjust position sizes accordingly. Create your own ideas and don’t follow what I do. Better yet, read the Risk Disclosure!