With the number of high profile economic events lined up last week, the pair exhibited a lot of volatility. I thought the HLHB Trend-Catcher would get faked out a lot, but thankfully, the pair made a lot of intraday trends. That, of course, was good for my system.
Here’s a rundown of the trades it took:
1. Invalid signal since RSI was below the 50.0 level the candle prior.
2. Long at 1.2273. Closed at 1.2259 due to new crossover. -14 pips.
3. Invalid signal since RSI was already below 50.0 the candle prior.
4. Long at 1.2283. Closed at 1.2292 due to new crossover. +9 pips.
5. Short at 1.2292. Closed at 1.2318 due to new crossover. -26 pips.
6. Long at 1.2318. Closed at 1.2297 due to new crossover. -21 pips.
7. Short at 1.2297. Closed at 1.2262 due to new crossover. +35 pips.
8. Long at 1.2262. Closed at 1.2354 when 50-pip trailing stop was hit. +94 pips.
9. Short at 1.2213. Closed at 1.2184 when 50-pip trailing stop was hit. +29 pips.
10. Long at 1.2193. Closed when 50-pip trailing stop was hit at 1.2243. +47 pips
As for my GBP/USD trade idea, I wasn’t able to take it. Yeah, I missed the rally on the pair but I’m not beating up myself for it.
I stuck to my plan. I had my eyes peeled for dojis and bullish marubozus but they didn’t form so I didn’t pull the trigger. On top of that, the BOE and ECB rate decisions also failed to boost the pound.
There’s no use in sulking about missing the boat on GBP/USD. After all, today’s the start of a brand new week and I’m hopeful it will be better than the last.
How did you do? Lemme know!