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 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 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
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.