First thing's first! Here's the review of all the signals the HLHB Trend-Catcher caught last week. As you can see, it only had three trades: 2 winners (one would be, if you want to be technical about it) and 1 loser. Here's the list of valid and invalid trades the HLHB Trend-Catcher caught last week:
1. Invalid signal since RSI was already above 50.0 prior the crossover candle.
2. Invalid signal since RSI was already below 50.0 prior the downward crossover.
3. Another invalid signal as RSI was above 50.0 prior the crossover candle.
4. Invalid signal as RSI was below 50.0 prior the crossover.
5. Long at 1.2810. Closed at 1.2803 due to new crossover. -7 pips.
6. Short at 1.2803. Closed at 1.2786 when 50-pip trailing stop was hit. +17 pips.
7. Long at 1.2807. Still open and 151 pips in profit...
Nice, eh? The move on Thursday turned out to be a valid one, which allowed my system to jump in the strong rally with a 50-pip trail stop. The trade is still open and I think it could hit the 200-pip target if price doesn't dip any further.
Winner, winner, turkey dinner! It looks like my GBP/USD trade benefited from the post-Thanksgiving surge in risk appetite. For the first time in weeks, the pair was able to rally past resistance at the 1.6000 handle. Woohoo!
I'll go ahead and say that it was an almost-perfect trade. I didn't enter my order early enough so I failed to get in at 1.6040 like I intended to, but I did manage to jump in at 1.6050. Still not bad!
I was banking on the not-so-dovish BOE meeting minutes to boost the pound. However, it looks like optimism that a Greek bailout deal would soon be established had more to do with the strong upward move on the pair.
With that said, I decided to just close both of my positions at market earlier, at 1.6024. I read from Pip Diddy's Daily Forex Fundamentals report that EU finance ministers would announce the details of Greece's bailout deal today. I'm not really comfortable having a trade open ahead of the event.
Buy GBP/USD at 1.5950, took profit at 1.6024: +74 pips/ 0.95%
I hope you all had an awesome week too!
- HLHB Weekly Update - April 5, 2013 07:02 05 April 2013
- 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 - October 1, 2012 02:00 01 October 2012
- HLHB Weekly Update - January 9, 2013 00:42 09 January 2013