Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
Another good week for EUR/USD! Aside from the RSI filtering a couple of fakeouts, the system printed a sell signal right before the pair dropped below its consolidation on the 1-hour chart. The 149-pip trade from signal #7 was more than enough to offset the 13-pip loss from the 3rd signal.
|1||Sell||1.3901||1.3901||0||There was no crossover|
|2||Buy||1.3936||1.3936||0||RSI was already above 50|
|4||Buy||1.3929||1.3929||0||RSI was already above 50|
|5||Sell||1.3920||1.3920||0||RSI was already below 50|
|6||Buy||1.3926||1.3926||0||RSI was already above 50|
|8||Sell||1.3769||1.3769||0||RSI was already below 50|
Like in EUR/USD, the HLHB System was able to dodge some fakeouts with the RSI filter. Unfortunately, it also posted a BUY signal just before Cable dropped, a similar move that we saw in EUR/USD. It resulted to a 67-pip loss that pulled the net results to -56 pips. Drat!
|1||Sell||1.6626||1.6626||0||RSI was already below 50|
|4||Buy||1.6640||1.6640||0||RSI was already above 50|
|6||Sell||1.6590||1.6590||0||RSI was already below 50|
|9||Sell||1.6507||1.6507||0||RSI was already below 50|
|10||Sell||1.6506||1.6506||0||RSI was already below 50|
I hope this system sees a better week next week!
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.