Fakeouts, fakeouts everywhere! Thanks to tight ranging conditions, this trend-catcher caught tons of fakeouts. Here are the details from last week’s trading!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
The last trading week of the month yielded tight ranges, which translated to tons of fakeouts from EUR/USD. The HLHB System pulled six valid signals, ALL of which turned out to be fakeouts. BOO! By the end of the week the system was down by a whopping 144 pips from the pair. Ouch!a
Like in EUR/USD, Cable also exhibited limited price movements throughout the week. There were seven signals total and only one of them yielded positive pips. By the end of the week this trend-catcher was down by 72 pips from GBP/USD. Guess traders just weren’t feeling like trading EUR and GBP, huh?
A pretty unfortunate end to the month overall, but I’ve got my fingers crossed that the NFP week will bring more pips to the HLHB’s coffers. See ya next week for more updates! 🙂
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!
2014 HLHB Trend-Catcher Performance Here are some books if you want to get deeper into building systems & algorithms. BabyPips.com receives a small credit from any purchases through the Amazon links above to help support the free content and features of our site…enjoy!
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.