“Huck loves her bucks!” I always say. The problem, of course, is how to make those bucks!! In this blog, I'll be posting my adventures as I traverse the forex world, while trying to catch some pips along the way. To do this, I will make use of classical charting methods as well as develop my own HLHB Trend-Catcher
The HLHB Trend-Catcher didn't perform as well last week, but the open trade from the week prior was more than enough to cover the losses. It brought in 92 pips!
Here's a recap of the other trades the HLHB Trend-Catcher caught:
1. Invalid signal since RSI was already below 50.0 the candle prior the crossover.
2. Bought at 1.2462. Closed when new crossover formed at 1.2447. -15 pips.
3. Sold at 1.2447. Closed when 50-pip trailing stop was hit. -50 pips.
4. Bought at 1.2509. Closed when new crossover formed at 1.2548. +39 pips.
5. Sold at 1.2548. Closed when new crossover formed at 1.2588. -40 pips.
6. Invalid buy signal since RSI was already above 50.0 the prior the crossover.
7. Another invalid signal. RSI had been below 50.0 for three candles already.
8. Bought at 1.2591. Closed when new crossover formed at 1.2561. -30 pips.
9. Sold at 1.2561. Closed when new crossover formed at 1.2507. +54 pips.
10. Bought at 1.2507. Trade still open.
Total pips (including the last open trade from last week): +50 pips.
EUR/USD trade
Remember my countertrend trade on EUR/USD? Well, it turned out to be a big winner!
I was hoping for price to find support around the 1.2500 handle. But as risk aversion continued to dominate market sentiment, EUR/USD slipped all the way down to 1.2450 and almost stopped me out!
I can't deny that I have Lady Luck to thank for for keeping me away from my computer when price dropped. Heck, if I saw support at 1.2500 break, I probably would've panicked and closed my trade early!
But then again, I also gave myself a pat on the back for setting my stop below the previous low. Boo yeah!
Now, I have no positions left as I took profit earlier at 1.2630 when the pair gapped up following news that Spanish banks will get bailed out. They say that all weekend gaps get filled and I had no intention of finding out how true it is the hard way.
Buy EUR/USD at 1.2500: took profit at 1.2630, 130 pips, +1.78%
There ya go, folks! I hope y'all had a good week too!
XOXO,
Huck
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Related Posts:
- HLHB Weekly Update - June 18, 2012 23:44 17 June 2012
- HLHB Weekly Update - June 25, 2012 23:50 24 June 2012
- HLHB Weekly Update - November 5, 2012 01:02 05 November 2012
- HLHB Weekly Update - October 8, 2012 01:54 08 October 2012
- HLHB Weekly Update - March 8, 2013 01:40 08 March 2013
