Fakeout alert! Thanks to a ranging environment and tons of fakeouts, the HLHB clocked in losses on both EUR/USD and GBP/USD. Here are the details!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
After the previous week’s action, both EUR/USD and GBP/USD traded in uber tight ranges that were no good for this trend-catcher. EUR/USD had 13 signals throughout the week with only 4 valid ones and ONE profitable signal. By the end of the week the system lost 22 pips on the pair. BOO!!!
Much like in EUR/USD’s price action, Cable also saw tight ranges throughout the week. The only possible action was found in signals #13 and #17. Unfortunately, only the latter actually contributed pips. With 6 out of 7 valid signals turning out to be losers, the HLHB lost a net of 78 pips from the pair.
A pretty bad week for the HLHB overall, but still within expectations of an intraweek trend-catcher system. Crossing my fingers for a more trend-y week next week though!
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!