The HLHB System had a mixed trading week thanks to tight forex trading conditions for both EUR/USD and GBP/USD. Here are the numbers!
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 as forex traders stayed on the sidelines ahead of the FOMC statement. The actual decision didn’t do much for the Greenback’s price action overall though. In fact, it wasn’t until the BOJ announced that it won’t be making any policy changes that EUR/USD saw any trend. Thanks to signal #9 catching the first bit of the end-of-week downtrend, the HLHB had snuck in a net of +68 pips by the end of the week.
Much like in EUR/USD, Cable’s price action was limited to a tight range before the FOMC event. Unlike in the EUR/USD thought, there was no last-minute trend to save the day for the HLHB. By the end of the week this trend-catcher system was down by 31 pips. Boo!
Not a bad week, I think, considering that the HLHB System could’ve seen a lot more fakeouts. Sure looks like the RSI filter is working, huh? Fingers crossed that we see a more trend-friendly week next week!
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!