“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
Remember the last signal that materialized on my HLHB Trend Catcher last week (long at 1.2507)?
Well, it closed with a 113-pip win at 1.2620 when the 50-pip trailing stop was hit. That was enough to keep my system on the green for the rest of last week despite incurring a couple of fakeouts.
Here's the breakdown of all the signals that materialized:
1. Sold at 1.2577. Closed at 1.2500 when 50-pip trailing stop was hit. +77 pips.
2. Bought at 1.2511. Closed when new crossover formed at 1.2479. -32 pips.
3. Sold at 1.2479. Closed at 1.2492 when 50-pip trailing stop was hit. -13 pips.
4. Bought at 1.2500. Closed when new crossover formed at 1.2483. -17 pips.
5. Sold at 1.2483. Closed when new crossover formed at 1.2503. -20 pips.
6. Bought at 1.2503. Closed at 1.2561 when 50-pip trailing stop was hit. +58 pips.
7. Invalid sell signal since RSI was not below 50.0 during the crossover.
8. Invalid buy signal since RSI was already above 50.0 prior the crossover.
9. Sold at 1.2550. Closed when new crossover formed at 1.2579. -29 pips.
10. Bought at 1.2579. Closed when new crossover formed at 1.2616. +37 pips.
11. Sold at 1.2616. Closed when new crossover formed at 1.2633. -17 pips.
12. Bought at 1.2634. Trade still open.
Total gain for the week (including open trade from the week prior): +157 pips
I'm really happy with the Trend Catcher's performance last week. Yeah, it wasn't able to filter out all the fakeouts but it was able to limit losses.
GBP/USD Trade
Speaking of fakeouts, my GBP/USD breakout play was a big bust! While Cable did close below the ascending triangle, it was unable to follow through with the move. It just made a new "higher low" and pierce through the resistance at 1.5600. Cable is now trading above the 1.5700 major psychological level.
The trade ended with a 50-pip loss, which equates to a 1% loss on my live account. Ouch!
Oh well, my winning streak had to eventually come to an end anyway! I accept this loss graciously. Hopefully, this week will be different!
XOXO,
Huck
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Related Posts:
- HLHB Weekly Update - June 11, 2012 01:59 11 June 2012
- HLHB Weekly Update - February 24, 2012 01:19 24 February 2012
- HLHB Weekly Update - April 2, 2012 01:12 02 April 2012
- HLHB Weekly Update - February 10, 2012 00:39 10 February 2012
- HLHB Weekly Update - March 13, 2013 02:00 13 March 2013
