You win some, you lose some! It was another mixed forex trading week for the HLHB System, as it lost pips on GBP/USD but gained a lot more from EUR/USD. Here are the deets!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
The prospect of a Fed rate hike in June or July really gained momentum around the start of the week, which is probably why EUR/USD fell by around 50 pips after lollygagging at the 1.1200 mark. The pair didn’t see much action after that though, at least not until Friday when the U.S. GDP met the market’s expectations and Janet Yellen snuck in one or two more hawkish comments. Still, EUR/USD’s mini roller coaster rides were enough for the HLHB System to gain a net of 108 pips from the pair. Woohoo!
At first glance it may look like GBP/USD’s volatile chart had more trade opportunities than EUR/USD did in the same week. And you’ll be right about that bet, too! Thing is, the HLHB Trend-Catcher System may have caught TOO MANY signals throughout the week. Yay RSI filter! There were only two valid signals and their sum netted a loss of 40 pips for the HLHB System. Not bad considering that the RSI filter managed to… well, filter out the fakeouts. Phew.
I guess it was a relatively weak week (hey, it rhymes!) for the HLHB System. Just shrugging this one off though! I think the NFP week is gonna yield better results. What do you think?
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!