Ranging environment? No problem! Oh wait, no signals either. Talk about a snoozer!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
As I’ve mentioned before, I’ve decided to stick to my second tweak in my forward tests for the next couple of weeks. Basically, I’m adding the ADX indicator as a filter on top of the RSI and applying all of them on the 4-hour time frame instead of last year’s 1-hour charts.
Here are the results from the third full week of June:
As you can see, tight ranging conditions led to a lack of valid signals from EUR/USD, GBP/USD, and USD/JPY. Yep, ZERO. What a boring week for the dollar!
Since I’ve already closed all valid signals last week, I didn’t have an open trade to watch either. I’m still thankful for the snoozefest, though, especially since I’ve seen a lot of fakeouts that could’ve slipped through and resulted to losses. Dodged bullets on those ones!
I guess this one is just a bad week to trade trends on the dollar. Fingers crossed for better (and stronger) trends!
By the way, I’m thinking of switching back to the original HLHB parameters. That is, I might use 1-hour charts again. What do you think?