A pretty good week for the HLHB System, as it gained pips from both EUR/USD and GBP/USD just by doing what it’s meant to do: catch intraweek trends.
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD was in a relatively tight range for most of the week, as traders held their breaths for a couple of tier 1 reports. Luckily, the system caught the two biggest moves throughout the week. Signal #2 contributed 36 pips while signal #8 gave 42 pips and contributed to a net gain of 41 pips. Awesome!
Aside from monetary policy statements from other majors central banks, Cable also had to deal with the U.K.’s CPI, employment, retail sales, and PMI releases. The RSI filter took care of most of the fakeouts, so only signals 5-7 made any difference. Signal #6 was particularly helpful, as it eked out 102 pips. By the end of the week, the system gained a net of 93 pips from the three signals. Not bad at all!
That’s it for my HLHB update this week. As always, I’m crossing my fingers for another trend-y week next week. Got any questions for me? Feel free to share them!
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!