You win some, you lose some. The HLHB System might have hit its profit target on GBP/USD but it also saw lots of forex fakeouts from EUR/USD. Here are the deets!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
A lack of catalyst kept EUR/USD in a tight range for most of the week, which resulted to tons of fakeouts for the HLHB System. The system even invalidated signal #6, which popped up when areas in Brussels were bombed. By the end of the week the little losses piled up and resulted to a 98-pip loss for the HLHB. Boo!
GBP/USD also started the week on an ultra-tight range, but soon caught a downtrend after the bombings in Brussels was followed up with bearish oil reports. Unlike in EUR/USD though, the system caught the risk aversion train and even pushed signal #3 to its 200-pip profit target. By the end of the week Cable had contributed a net of 184 pips to the HLHB’s coffers. Phew!
Let’s see if this week’s signals yield more pips for this trend-catcher system. Fingers crossed for a trend-friendly NFP week!
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.