HLHB Weekly Update – July 10, 2013

EUR/USD

EUR/USD 1-hour Chart

Finally! My HLHB Trend-Catcher finishes a week in the green on EUR/USD! Six crossovers materialized, four turned out to be valid signals, and three closed with modest gains. I have to admit that I would be so much happier if the Trend-Catcher caught that last signal for the week but I’m not gonna complain. A 59-pip gain is so much better than a loss!

1. Long at 1.3027. Closed at 1.3030 when 50-pip trailing stop was hit. +3 pips.
2. Short at 1.3024. Closed at 1.2974 when 50-pip trailing stop was hit. +50 pips.
3. Long at 1.2972. Closed at 1.2995 due to a new crossover. +23 pips.
4. Invalid sell signal since RSI was above 50.0.
5. Long at 1.3003. Closed at 1.2986 due to a new crossover. -17 pips.
6. Invalid sell signal since RSI was above 50.0.

Total Gain: +59 pips

GBP/USD

GBP/USD 1-hour Chart

Sadly, it did not perform as well on GBP/USD. There were two losing trades and two winning trades, but the losses in pips exceeded the wins, causing the net total to be negative. It wasn’t that bad though as the system was only down 8 pips. Below are the trades the system took as well as their corresponding results:

1. Invalid upward crossover since the RSI was below 50.0.
2. Short at 1.5215. Closed at 1.5230 due to the new crossover. -15 pips.
3. Long at 1.5230. Closed at 1.5199 due to the new crossover. -31 pips.
4. Short at 1.5199. Closed at 1.5179 when the 50-pip trailing stop was hit. +20 pips.
5. Long at 1.5244. Closed at 1.5262 when the 50-pip trailing stop was hit. +18 pips.
6. Invalid short signal since the RSI was above the 50.0 level.

Total Loss: -8 pips.

That’s it for today. Stay tuned for my trade idea for the week!

XOXO,

Huck

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  • PipMeHappy

    Well done on catching those pips! I was all Euro-negative and took a 150USD yesterday. I did not trade the news, I just opened a Eur/Usd short on Tuesday, when the Euro had broken below 1.2800, thinking nothing of Bernanke’s speech: had we not heard it all before on 19th June? The market went mental; the dollar tumbled; the Euro shot up like a frightened squirrel. Go figure :S
    Happy trading 😉