Another good week from GBP/USD! Thanks to the U.K.’s tier 1 reports, this trend-catcher caught a net of 166 pips throughout the week. Too bad it didn’t fare as well in EUR/USD though.
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
Risk appetite in the first half of the week boosted EUR/USD by at least 100 pips before settling to pretty tight ranges. Unfortunately for the HLHB Trend-Catcher System, there were more fakeouts than valid signals and among the valid ones there were more losers than winners. At the end of the week the HLHB is down by 43 pips from the pair.
Unlike in EUR/USD, Cable had more chances at seeing intraweek trends. Apparently, the first post-Brexit reports from the U.K. hinted that there was limited knee-jerk reaction from domestic market players. The HLHB System got lucky, as it only validated winners throughout the week. Signal #7 contributed 93 pips while signal #10 gave 73 pips to a net of 166 pips by week’s end. Woot! Woot!
Is it me or is the system doing way better applied to GBP/USD than to EUR/USD? Let’s see if next week’s results will paint us a different picture!
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!