Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD was on a tight range for most of the week, as forex traders braced for tier-1 reports due throughout the week. In fact, the pair didn’t see much action until the NFP Friday when a better-than-expected release sent the pair down by at least 100 pips.
The RSI filter managed to catch most of the fakeouts but missed out on the big move on Friday. By the end of the week, the system was down by 20 pips on the pair.
GBP/USD had fewer signals than EUR/USD but boy, did the system have more fun on this one! There were five valid signals among the 9 that popped up and only two of them churned out winners.
Luckily, signal #2 contributed 101 pips while signal #7 eked 170 pips for the HLHB’s coffers. This resulted in a net gain of 181 pips from Cable by the end of the week. Phew!
Looks like the HLHB System is going well on Cable so far this year. Fingers crossed for better numbers for EUR/USD next 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.
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.