HLHB Weekly Update – July 9, 2010

PoD Chart

Woooohooooo! Finally – a valid signal! Thank you HLHB system for giving Huckie her bucks!

Sorry everybody, I can’t contain my happiness – it’s been a long time since I’ve got a solid signal on my HLHB system. All the stars lined up last Friday, as we got a crossover signal, price surpassed the 30-pip filter and stochastics were not yet in overbought conditions.

I entered at 1.2505, and earlier this week, I hit my first take profit point at 1.2655. Now I’m locked in for 150 pips, I’ve put on the trailing stop. Price seems to have stalled at 1.2700, but I’ve got a feeling I’m going to be able to bag more pips on this trade.

Just when I start feeling that I should adjust my system, I get a nice signal that changes my mind. What should I do now?

Hmmm, since psychic animals seem to be the “in” thing now, I decided to ask my dog (lovingly named “Dawg” by my friend) what he thinks I should do with my trade.

Okay Dawg, take it away…

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Alright, that didn’t work out as well as Psychic World Cup Octopus… so I guess I’ll just have to rely on the HLHB rules for now.

This week, improved risk appetite kept higher-yielding currencies afloat. Did y’all see that strong rally from the higher-yielders, particularly the Aussie, a couple of days ago? Equities also soared as the Dow Jones soared back above the 10,000 mark. That was pretty wild!

I did find it odd that the safe-haven Greenback saw some weakness this week since I’ve been seeing red all over the economic calendar. I mean, look at all those reports that came in weaker than expected. Weren’t those supposed to spur risk aversion and Greenback-buying? And what about the stress tests for European banks? I would’ve guessed that these would dampen demand for euros now since closer scrutiny of their financial system could reveal more disappointing results.

In any case, it’s 11 pm here right now so I better get ready for bed. Enough forex for now… Catch ya later guys!