Thank goodness! Despite losing two trades on my discretionary system, the HLHB Trend-Catcher turned out to be the perfect picker-upper when it ended the week with a three-digit win. On tough times like this, I just gotta learn to look at the brighter side of things.
The HLHB Trend-Catcher turned out to be the perfect picker-upper when it ended the week with a three-digit win. On tough times like this, I just gotta learn to look at the brighter side of things.
Here’s a breakdown of the signals that materialized:
1. Long at 1.2962. Trailing stop hit at 1.2930. -32 pips.
2. Short at 1.2936 closed due to new crossover at 1.2954. -18 pips.
3. Long at 1.2954 closed due to new crossover at 1.3112. +158 pips.
4. Invalid signal since RSI did not cross 50.
5. Long at 1.3110 closed due to new crossover at 1.3099. -11 pips.
6. Short at 1.3099 closed due to new crossover at 1.3038. +61 pips.
Of the six signals that materialized, only two ended up as winners. However, they were enough to allow my system to close with a 158 pip gain!
USD/JPY Long-Term Trade
As you all probably know by now, my USD/JPY trade from around two weeks ago lost. At first, the trade went well as the falling trend line resistance held. Unfortunately, price also found support at the bottom of the triangle, which lead to a strong rally and an upside break.
In addition to risk appetite, the yen was sold-off due to intervention fears. According to Japan’s Economy Finance Minister, the government could intervene anytime without the consent of the U.S.
Stopped out at 79.25: -79 pips (average) / -1.0%
So there ya have it folks… A bit of good news and a bit of bad news! Let’s hope this week brings only good ones!