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Fakeouts, fakeouts everywhere! This wasn’t a good week for the HLHB System, as both EUR/USD and GBP/USD saw tons of fakeouts. Yikes!

Read all about my HLHB Trend Catcher System if this is your first time hearing about it!

EUR/USD

EUR/USD HLHB System Forex Chart
EUR/USD HLHB System Forex Chart

EUR/USD was in Rangeville for most of the week, so the HLHB System had a hard time finding trendy trades. Signal #6 would have been perfect if it had only shown a sell signal instead of signaling a long trade. Unfortunately, all valid signals turned out to be fakeouts and by the end of the week, the system was down by 71 pips on EUR/USD. Boo!

# Signal Open Close Pips Notes
1 Sell 1.2668 1.2668 0 RSI was already below 50
2 Buy 1.2708 1.2699 -9 New crossover
3 Sell 1.2699 1.2746 -47 New crossover
4 Buy 1.2746 1.276 0 RSI was already above 50
5 Sell 1.2724 1.2739 -15 New crossover
6 Buy 1.2739 1.2739 0 RSI was already above 50
7 Sell 1.2646 1.2646 0 RSI was already below 50
8 Buy 1.2622 1.2622 0 There was no crossover
9 Sell 1.2605 1.2605 0 RSI was already below 50
TOTAL -71

GBP/USD

GBP/USD HLHB System Forex Chart
GBP/USD HLHB System Forex Chart

Like in EUR/USD, GBP/USD was also trending for most of the week. Unlike the previous pair though, the system had signal #10 that yielded pips and was able to offset most of the week’s losses. Still, the fakeouts ruled the system’s performance and resulted to a 23-pip loss for the week.

# Signal Open Close Pips Notes
1 Sell 1.6113 1.6113 0 There was no crossover
2 Buy 1.6124 1.6124 0 There was no crossover
3 Buy 1.6127 1.6127 0 RSI was already above 50
4 Sell 1.6119 1.6119 0 There was no crossover
5 Buy 1.6167 1.6167 0 There was no crossover
6 Sell 1.6132 1.6132 0 There was no crossover
7 Buy 1.6140 1.6140 0 RSI was already above 50
8 Sell 1.6122 1.6150 -28 New crossover
9 Buy 1.6150 1.6103 -47 New crossover
10 Sell 1.6103 1.5996 107 New crossover
11 Sell 1.5996 1.5996 0 RSI was already below 50
12 Buy 1.6002 1.5971 -31 New crossover
13 Sell 1.5971 1.5995 -24 New crossover
14 Buy 1.5995 1.5995 0 RSI was already above 50
TOTAL -23

Fingers crossed for a better week next week!

XOXO,

Huck

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This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.