HLHB Weekly Update – April 5, 2013

EUR/USD

EUR/USD 1-hour Chart

The HLHB Trend Catcher did terrible on EUR/USD last week as the pair just ranged for the most part. It caught a lot of bad trades and missed all the good ones! If there’s any consolation, it was able to filter all the bad trades during Easter holiday weekend.

1. Short at 1.2996. Closed at 1.3016 due to new crossover. -20 pips.
2. Long at 1.3016. Closed at 1.3001 due to new crossover. -15 pips.
3. Invalid short signal since RSI was above 50.0 during the downward crossover.
4. Invalid long signal. RSI was below 50.0 during the upward crossover.
5. Invalid short signal as RSI was already below 50.0 prior the downward crossover.
6. Invalid long signal. RSI was below 50.0.
7. Short at 1.2761. Closed at 1.2798 due to new crossover. -37 pips.
8. Long at 1.2798. Closed at 1.2801 due to new crossover. +3 pips.
9. Short at 1.2801. Closed at 1.2824 due to new crossover. -23 pips.
10-14. Invalid signals, RSI was above 50.0 the entire time.

Total Gain/Loss: -92 pips

GBP/USD

GBP/USD 1-hour Chart

However, my system finished the week bagging a few pips on GBP/USD. The RSI did a pretty good job in filtering out fakeouts on the pair. As you can see, there were a total of 17 crossovers but only 4 were valid trades.

1. Short at 1.5226. Closed at 1.5191 due to new crossover. +35 pips.
2. Invalid long signal since RSI was below 50.0 during the upward crossover.
3. Short at 1.5171. Closed at 1.5164 due to new crossover. +7 pips.
4. Invalid long signal since RSI was below 50.0 during the upward crossover.
5. Invalid short signal since RSI was already below 50.0 prior the downward crossover.
6. Invalid long signal since RSI was below 50.0 during the upward crossover.
7. Invalid short signal since RSI was already below 50.0 prior the downward crossover.
8. Invalid long signal since RSI was below 50.0 during the upward crossover.
9. Invalid short signal since RSI was above 50.0 during the downward crossover.
10. Long at 1.5153. Closed at 1.5190 due to new crossover. +37 pips.
11. Invalid short signal since RSI was above 50.0 during the downward crossover.
12. Invalid long signal since RSI was already above 50.0 prior the upward crossover.
13. Invalid short signal since RSI was above 50.0 during the downward crossover.
14. Invalid long signal since RSI was already above 50.0 prior the upward crossover.
15. Invalid short signal since RSI was above 50.0 during the downward crossover.
16. Long at 1.5199. Closed at 1.5193 due to new crossover. -7 pips.
17. Invalid short signal since RSI was above 50.0 during the downward crossover.

Total Gain/Loss: +72 pips

I don’t want to get ahead of myself, but I have my hopes up that I will report positive figures for my Trend Catcher next time, seeing that the market trended heavily this week. Fingers crossed!

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