EUR/USD didn’t trend this week, so there was really nothing for my HLHB Trend-Catcher system to catch. Boo! On the positive side of things though, I am up on my GBP/USD trade. Yay!
EUR/USD didn’t trend this week, so there was really nothing for my HLHB Trend-Catcher system to catch. Boo! There were 13 signals this week (including last one that materialized from last week). Here’s how each of them went:
1. Long at 1.3053, closed on new crossover at 1.3078: +25 pips. (signal from last week)
2. Crossover at 1.3078, not a valid trade. RSI was not below 50.
3. Long at 1.3130, closed at 1.3160 on new crossover: +30 pips.
4. Crossover at 1.3160, not a valid trade. RSI was not below 50.
5. Long at 1.3206, closed on new crossover at 1.3224: +16 pips.
6. Crossover at 1.3224, not a valid trade since RSI was not below 50.
7. Long at 1.3230, closed on new crossover at 1.3192: -38 pips.
8. Short at 1.3192, stopped out at 1.3242: -50 pips.
9. Long at 1.3234, closed on new crossover at 1.3237: +3 pips.
10. Short at 1.3237. Trailing stop triggered at 1.3228: + 9 pips.
11. Long at 1.3229, stopped out at 1.3179: -50 pips.
12. Short at 1.3164, closed on new crossover at 1.3201: -37 pips.
13. Long at 1.3201, still open.
Gain/loss for the week: -92 pips
I cautiously optimistic that I will soon close my GBP/USD trade with a win.
Let me just do a quick update on the GBP/USD trade I took two days ago. The trade turned out to be a promising one as price quickly dropped after consolidating just below the 1.5900 resistance level.
I’m currently up 70 pips or so, so I’m crossing my fingers that my first profit target will get hit. The way, I can reduce risk and move the stop on the rest of my position to breakeven. I’ll monitor this trade for the next couple of days.