Hucklekiwi Pip

Hello my lovely readers! Today, I have a nice, quick day trade setup I’d like to share with all of you. I think the huge drop in EUR/USD we saw last week has come to an end, and we’ll see the pair retrace a bit more.

While I missed the move on GBP/USD, my HLHB Trend-Catcher System generated yet another winning EUR/USD trade this week. So I guess I shouldn’t be that sad, right?

I’m going to take a page out of Pipcrawler’s book and try to trade a retracement. My trade isn’t on EUR/USD though, but on GBP/USD! I hope it ends up with a huge win too!

You could say this week was a “fair” one. While I did lose on my EUR/USD trade yesterday, the HLHB Trend-Catcher on the hourly time frame is off to a promising start! Not only did it generate a valid signal, the trade turned out to be a winner too!

Phew, after days of searching, I have finally found a nice trade setup. If you look at the 4-hour chart of EUR/USD, you will see that the pair just formed two spinning tops at the bottom of its trading range and is currently exhibiting a bullish divergence. Time to go long?

Nooo! Even though I did get the direction correct, I got left behind on the bear rally on Cable last week. Dang!

As I mentioned last week, the trend-catcher isn’t really doing that great. But before I bid it farewell, let’s take a look at how it performed this week.

What the heck. For the third straight week, the forward-testing of the new trial system “HLHB Trend-Catcher” was an epic fail. I think it’s time to make some changes.

I have to admit something… I closed my shoulda-woulda-coulda been a winning trade because I panicked. As it turns out, going long on GBP/USD yesterday would’ve been a REALLY good trade.

Major ouch! As it turns out, my “I’m no quitter” attitude didn’t work out to my advantage this time around. I shorted GBP/USD again only to suffer a 1.0% loss!