Another mixed forex trading week for the HLHB System, as it gained tons of pips on GBP/USD but lost a couple on EUR/USD. Here’s what happened!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD started the trading week on a tight range, as traders stayed out of the major dollar pairs ahead of the FOMC meeting minutes. The report’s release brought eventually brought out the dollar bulls after the Fed’s minutes turned out to be as hawkish as the interest rate junkies had expected. The pair went back to tight trading though, which produced more fakeouts for this trend-catcher. By the end of the week the system was down by a net of 25 pips from the pair. Not bad!
GBP/USD was not shy in clocking in intraweek trends at the start of the week. Thanks to polls showing more anti-Brexit votes, Cable was on fire in the first half of the week. Heck, not even a hawkish FOMC meeting minutes was enough to stop the bulls’ momentum! The second half of the week was more subdued though, with the HLHB System catching at least 4 fakeouts that got invalidated by the RSI filter. By the end of the week the system gained a net of 143 pips from GBP/USD. Woot! Woot!
A pretty good week, don’t you think? I didn’t mind the fakeouts at all. Overall the system still manages to offset the fakeouts with wins from the bigger intraweek trends. Can’t wait to see next week’s charts!
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!