A pretty mixed week for this trend-catcher system, as it gained pips on Cable but lost a couple on EUR/USD. Here are the numbers from last week’s forex trading!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD traded tightly for most of last week despite an onslaught of lower tier reports from the euro zone and a bit of dovish rhetoric from Draghi. In fact, the pair didn’t show any serious moves until the end of the week when a renewed FBI investigation over Clinton’s emails inspired a dollar selloff. As a result, the HLHB Trend-Catcher mostly caught fakeouts throughout the week, ending it with a net loss of 68 pips. Boo!
Cable was barely any better than EUR/USD in terms of directional moves, but it did show more volatility than the latter especially when Carney made a speech and the U.K.’s GDP report came out better-than-expected. The RSI filter did a pretty good job of filtering out fakeouts, which is probably why the HLHB capped the week with a 49-pip gain on the pair.
My fingers are crossed for a more trend-friendly week this NFP week! Let me know if you have any questions!
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!
2014 HLHB Trend-Catcher Performance