Partner Center Find a Broker

Fakeouts, fakeouts everywhere! Not a good forex trading week for the HLHB System no thanks to tons of fakeouts on EUR/USD and GBP/USD.

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

EUR/USD

EUR/USD 1-Hour Forex Chart
EUR/USD 1-Hour Forex Chart

EUR/USD was on a tight range for most of the week, so it’s not exactly surprising that this trend-catcher system caught tons of fakeouts. Signal #10 hurt significantly since it was followed by a new crossover after a major report. Signal #9 would’ve yielded decent pips but it was invalidated by the RSI filter. By the end of the week the system is down by 92 pips. Bleh.

# Signal Open Close Pips Notes
1 Sell 1.0853 1.0853 0 There was no crossover
2 Buy 1.0874 1.0874 0 RSI was already above 50
3 Sell 1.0851 1.0883 -32 New crossover
4 Buy 1.0883 1.0873 -10 New crossover
5 Sell 1.0873 1.0873 0 There was no crossover
6 Buy 1.0882 1.0882 0 There was no crossover
7 Sell 1.0874 1.0874 0 There was no crossover
8 Buy 1.0880 1.0880 0 There was no crossover
9 Buy 1.0981 1.0981 0 RSI was already above 50
10 Sell 1.1089 1.1139 -50 Adjusted stop loss hit
11 Buy 1.1221 1.1221 0 RSI was already above 50
12 Sell 1.1195 1.1195 0 RSI was already below 50
TOTAL -92

GBP/USD

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

GBP/USD had a more interesting price action with a steady uptrend at the start of the week. Unfortunately, the pip-yielding signal was invalidated by the RSI filter. Signal #6 saved the day with its 146-pip win though, and canceled out most of the losses. Phew!

# Signal Open Close Pips Notes
1 Sell 1.5143 1.5210 -67 New crossover
2 Buy 1.5210 1.5210 0 RSI was already above 50
3 Buy 1.5461 1.5461 0 RSI was already above 50
4 Sell 1.5425 1.5425 0 RSI was already below 50
5 Buy 1.5392 1.5342 -50 Stop loss hit
6 Sell 1.5293 1.5147 146 New crossover
TOTAL 29

Not a bad week, I think. It wouldn’t hurt to have a trending week this week though. My fingers and toes are crossed! 🙂

XOXO,

Huck

See also:

2014 HLHB Trend-Catcher Performance

Follow me on MeetPips.com

Follow me on Twitter

Like my page on Facebook

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.