Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
High-yielding currencies like the euro received support at the start of the week thanks to better-than-expected Chinese data and a bit of start-of-month risk-taking.
However, the NFP week soon caught up to the forex traders and inspired tight trading ranges for the rest of the week. EUR/USD yielded a total of 9 signals with 2 out of 2 of the valid signals turning out to be winners. Yay!
GBP/USD’s price action was much like EUR/USD’s though it caught more fakeouts than the former. By the end of the week the pair had shown 8 signals with 4 of them valid and only 2 of those turning out to be winners. This yielded a net loss of 13 pips. Boo!
Not a bad week, I think, considering that the HLHB System could’ve seen a lot more fakeouts. Sure looks like the RSI filter is working, huh? Fingers crossed that we see a more trend-friendly week next week!XOXO,
P.S.: Remember to never risk more than 1% of a trading account on any single trade and to adjust position sizes accordingly. Create your own ideas and don’t follow what I do. Better yet, read the Risk Disclosure!
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.