“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's performance last week was mixed. While the signals it caught were mostly fake outs, the trade that was left open the week prior closed out with a huge gain!
The trade I'm talking about was the 11th trade of HLHB Weekly Update - November 5, 2012. It opened at 1.2937 and closed at 1.2840 for a huge 97-pip gain when a crossover formed.
As for the trades that happened last week, here's a nice summary:
1. Invalid signal since RSI did not cross the 50.0 level.
2. Invalid signal since RSI was already below 50.0 when the crossover happened.
3. Invalid signal since RSI was still below 50.0 after the crossover.
4. Invalid signal since RSI was below 50.0 when the crossover happened.
5. Long at 1.2796. Closed at 1.2784 due to new crossover. -12 pips.
6. Short at 1.2784. Closed at 1.2796 due to new crossover. -12 pips.
7. Long at 1.2796. Closed at 1.2791 due to new crossover. -5 pips.
8. Short at 1.2791. Closed at 1.2833 due to new crossover. -41 pips.
9. Long at 1.2833. Closed at 1.2827 when 50-pip trailing stop was hit. -6 pips.
10. Short at 1.2815. Closed at 1.2770 due to new crossover. +45 pips.
11. Long at 1.2770. Closed at 1.2734 due to new crossover. -36 pips.
12. Short at 1.2734. Closed at 1.2767 when 50-pip trailing stop was hit. -33 pips.
13. Long at 1.2768. Closed at 1.2741 when 50-pip trailing stop was hit. -27 pips.
14. Short at 1.2736. Closed at 1.2724 due to new crossover. +12 pips.
All in all, including the trade that had been left open the week prior, the HLHB Trend-Catcher got a small 18 pip loss. Not so bad considering all the fakeouts the system caught!
EUR/USD
I failed to bank pips on the the EUR/USD downtrend on my discretionary system too. As I said on Friday, I was hoping for price to pullback to 1.2800 before shorting but it didn't happen. The pair found resistance at the 38.2% Fibonacci retracement level and droped to 1.2700. Oh well!
Although I've already cancelled my orders. I'm still looking to short the euro. Last week, concerns about the region got the pair sold off. I'm thinking that perhaps the sentiment would carry on the coming trading days. Hopefully, next time that happens, I don't miss out on the move!
How did you do in last week's trading?
XOXO,
Huck
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Related Posts:
- HLHB Weekly Update - November 5, 2012 01:02 05 November 2012
- HLHB Weekly Update - June 25, 2012 23:50 24 June 2012
- HLHB Weekly Update - April 10, 2012 00:09 10 April 2012
- HLHB Weekly Update - May 22, 2013 02:46 22 May 2013
- HLHB Weekly Update - May 3, 2013 00:47 03 May 2013
