Yay for another good week for the HLHB System! Though it caught tons of fakeouts from both EUR/USD and GBP/USD, this trend-catcher was able to well, catch a couple of good forex signals that resulted to net profits. Woot!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
With not a lot of reports scheduled for the week, EUR/USD traded on a pretty tight range. The HLHB System only eked out 7 signals and only 2 of them turned out to be valid. Luckily, the system was able to take advantage of small intraweek trends and ended the week with a net gain of 62 pips.
Unlike in EUR/USD, Cable started the week on strong footing as pound traders continued to price in better-than-expected post-Brexit data from the U.K. Heck, the HLHB System gained 98 pips from the first signal alone! Unfortunately, a couple of fakeouts got past the RSI filter. By the end of the week though, the system was still up by a net of 54 pips despite seeing three fakeouts. Phew!
Feeling good about the week ahead! Think the NFP week will yield small trends that the HLHB System can take advantage of? I sure hope so!
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!
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