Another mixed forex trading week for the HLHB System! EUR/USD brought in tons of pips thanks to the ECB event while GBP/USD lost a couple due to tight ranges.
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD traded on a tight range early in the week when there were no major news reports moving the markets. Of course, euro bulls and bears were also waiting on the ECB event in anticipation of fireworks from Draghi. And boy did he deliver! As widely expected, the ECB did unleash more stimulus in the markets.
Unfortunately, he also let slip that there won’t be any follow through in the near future. This produced wild swings that the system was able to catch. With signal #7 pulling in 113 pips and signal #8 bringing 126 pips to the table, the pair had an easy +185 pips by the end of the week.
Like in EUR/USD, Cable also traded in tight ranges early in the week. Unlike the former though, the pair had no catalyst to inspire a burst of volatility. This didn’t turn out well for this trend-catcher, as evidenced by the 83-pip loss by the end of the week. Boo!
Next week’s charts are looking more promising for the HLHB System! Fingers crossed that it catches the big moves that we’re seeing. 🙂
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.