HLHB Weekly Update – November 27, 2009

Hi everybody! How was your Thanksgiving? I had good day, aside from the fact that I got sideswiped and lost out on my EURUSD trade. Tomorrow is Black Friday and you all know what that means – shopping!! Before I head off to get my beauty sleep, I’ll leave you guys with the first update for my HLHB system!

Just in case this is your first time reading this blog, you can check out the HLHB system here.

PoD Chart

I almost got a trade early this week, as the EURUSD pair changed course after dropping last week. The 10 EMA crossed over the 20 EMA midway through Monday. Stochastic was still in between 50 and 80, indicating that the pair still had some room to move up. All I had to do was wait for price to hit 1.5004, which was 30 pips above the high of the crossover candle. However, the pair couldn’t hit the 30 pip buffer and I missed out. Price action bounced from the 1.5000 price and consolidated for a bit before busting past the resistance. By the time price reach my desired entry point, stochastic was deep in overbought conditions, so I could no longer enter.

So, no pips for me this week from the HLHB system. I’ll be looking forward to next week though – it looks like we may have another crossover at hand! Let’s see if the signals will line up next week!

Happy Thanksgiving and good luck shopping… I mean trading!