It looks like my HLHB Trend-Catcher 3.0 wasn't able to mimic its performance from the week before as it produced some negative pips. Here's a summary of all the signals generated as well as the corresponding results:
1. Long at 1.3038. Closed at 1.3046 due to new crossover. +8 pips.
2. Short at 1.3046. Closed at 1.3060 due to new crossover. -14 pips.
3. Invalid buy signal since RSI was already above 50.0 the candle prior the crossover.
4. Sadly an invalid sell signal since RSI was already below 50.0 the candle prior the crossover.
5. Invalid buy signal since RSI was below 50.0.
6. Invalid sell signal since RSI did not cross 50.0 from above.
7. Long at 1.2992. Closed at 1.2961 due to new crossover. -31 pips.
8. Short at 1.2961. Closed at 1.2970 when 50-pip trailing stop was hit. -9 pips.
9. Long at 1.2974. Closed at 1.2974 when 50-pip trailing stop was hit. Breakeven.
10. Short at 1.2972. Closed at 1.2933 when 50-pip trailing stop was hit. +39 pips.
11. Long at 1.2937. Closed at 1.2922 due to new crossover. -15 pips.
All in all, the system generated a small 22-pip loss. While it certainly wasn't a good week, it wasn't a terrible one either.
Now, on to some good news...
Indeed, good things come to those who wait!
I decided to wait for EUR/USD to pullback to the 61.8% Fib level and test the falling trend line before jumping in on the downtrend. My strategy proved to be a good idea as price soon dropped and hit my first profit target at 1.2920.
I still have half of my position left open and I think I'll keep it there until I see any catalyst that could potentially shift market sentiment. Don't worry, I've already moved my stop to breakeven!
I hope y'all had a good week too!
- HLHB Weekly Update - November 5, 2012 01:02 05 November 2012
- HLHB Weekly Update - April 10, 2012 00:09 10 April 2012
- HLHB Weekly Update - November 12, 2012 00:42 12 November 2012
- HLHB Weekly Update - March 13, 2013 02:00 13 March 2013
- HLHB Weekly Update - February 15, 2013 02:18 15 February 2013