Another good forex trading week for the HLHB System, as it gained pips from both EUR/USD and GBP/USD. Huzzah!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD was trapped in a tight range for most of the week, thanks to traders staying by the sidelines ahead of the central bank decisions this week. Of the 13 signals from the HLHB System only six were valid and only three of them were winners. Fortunately, the winners outnumbered the losers in pip terms and the system was able to take home a net of 52 pips by the end of the week. Yay!
The action for Cable happened at the start of the week when major oil producers failed to reach an agreement in their conference in Doha, Qatar. Unfortunately, the RSI filter ended up invalidating signal #2. The pair traded on a tight range for most of the week though the HLHB still managed to sneak in a net of 29 pips from the four out of 8 signals that were valid.
Overall I’m pretty happy with the HLHB System’s performance. So far it’s working pretty well as a trend-catcher despite the fakeouts that we see in times of tight volatility. Fingers crossed for a trend-y week for both EUR/USD and GBP/USD!
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!