EUR/USD
It wasn’t a good week for the HLHB Trend-Catcher as we saw a lot of fakeouts. EUR/USD, in particular, traded tightly for most of the week, which resulted in losses for the system.
| # | Signal | Open | Close | Pips | Notes |
|---|---|---|---|---|---|
| 1 | 1.3266 | 1.3266 | RSI was already above 50 | ||
| 2 | 1.3257 | 1.3274 | New crossover | ||
| 3 | 1.3274 | 1.3256 | New crossover | ||
| 4 | 1.3256 | 1.3263 | New crossover | ||
| 5 | 1.3263 | 1.3300 | New crossover | ||
| 6 | 1.3300 | 1.3307 | Trailing stop hit | ||
| 7 | 1.3315 | 1.3315 | RSI was already above 50 | ||
| 8 | 1.3300 | 1.3281 | New crossover | ||
| 9 | 1.3281 | 1.3311 | New crossover | ||
| 10 | 1.3311 | 1.3274 | New crossover | ||
| 11 | 1.3274 | 1.3303 | New crossover | ||
| 12 | 1.3303 | 1.3303 | End-of-week trade | ||
| TOTAL |
GBP/USD
We saw a similar story of fakeout galore on GBP/USD. Fortunately, the pair had one good signal at the end of the week, which limited the system’s losses to only 39 pips. Phew!
| # | Signal | Open | Close | Pips | Notes |
|---|---|---|---|---|---|
| 1 | 1.5710 | 1.5710 | RSI was already above 50 | ||
| 2 | 1.5693 | 1.5704 | New crossover | ||
| 3 | 1.5704 | 1.5722 | New crossover | ||
| 4 | 1.5722 | 1.5787 | New crossover | ||
| 5 | 1.5787 | 1.5787 | RSI was already above 50 | ||
| 6 | 1.5806 | 1.5826 | New crossover | ||
| 7 | 1.5826 | 1.5805 | New crossover | ||
| 8 | 1.5805 | 1.5810 | New crossover | ||
| 9 | 1.5810 | 1.5875 | End-of-week trade | ||
| TOTAL |
Hmm, I guess I really should just use the HLHB Trend Catcher on trending price action. Here’s to hoping that the next week is a better one!
XOXO,
Huck
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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.