HLHB Weekly Update – August 27, 2010

PoD Chart

Ohhhhhhh, is that a crossover I spot on the HLHB system? Oh, why yes it is!

As you can see, there was a crossover yesterday at around 8:00 pm GMT. Stochastics was NOT above the 80.00 mark yet, which means that I could have bought the pair if the next candle went 30 pips above the high of the crossover candle. Sadly, the next candle proved to be a bust and fell. Whether this “missed trade” is a good or bad thing remains to be seen!

Why does it remain to be seen? Have you been paying attention to the markets lately? Everything has been as wacky as a Looney Toons episode!

Thanks to weak US economic figures, risk aversion and double-dip recession were still the buzzwords for the week. Despite this, higher-yielders seemed to be busy recouping some of their losses during the past few days. Weird, huh? I thought the safe-havens would keep rallying like there’s no tomorrow!

Well, it looks like the Japanese yen and the Swiss franc did make some modest gains. When the BOJ eased up on their jawboning, the yen easily became the preferred safe-haven of traders. Could it be that, even though risk aversion is reigning supreme, demand for the Greenback is waning because of weak US data? It sure looks like it!

So, aside from that, nothing much has happened this week. Well, expect that Macauley Culkin just turned 30. That’s right – THIRTY! I’ll always remember him as the lil’ boy in Home Alone and My Girl. Ha, if only I could booby trap the markets to give me some pips, then I’d be one happy camper.

Thanks for reading my blog! If you wanna read more about my system, check this out! Also, you can read up on my past blogs and trades on MeetPips.com!

2 comments

  1. MrWynton

    Hey Huck, 1.2750 was a major resistance level and was not broken. Every 250 pips added to a round number on the EUR/USD is a support/resistance.
    I.E 1.2000 is a round number, thus making 1.2250, 1.2500 and 1.2750 strong resistance/support levels.
    Watch out for that because the EUR/USD is all about support and resistance if you ask me.

    Reply
  2. MrWynton

    Hey Huck, 1.2750 was a major resistance level and was not broken. Every 250 pips added to a round number on the EUR/USD is a support/resistance.
    I.E 1.2000 is a round number, thus making 1.2250, 1.2500 and 1.2750 strong resistance/support levels.
    Watch out for that because the EUR/USD is all about support and resistance if you ask me.

    Reply

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