With the number of high-profile economic events lined up last week, the pair exhibited a lot of volatility. I thought the HLHB Trend-Catcher would get faked out a lot, but thankfully, the pair made a lot of intraday trends. That, of course, was good for my system.
Here’s a rundown of the trades it took:
1. Invalid signal since RSI was below the 50.0 level the candle prior.
2. Long at 1.2273. Closed at 1.2259 due to new crossover. -14 pips.
3. Invalid signal since RSI was already below 50.0 the candle prior.
4. Long at 1.2283. Closed at 1.2292 due to new crossover. +9 pips.
5. Short at 1.2292. Closed at 1.2318 due to new crossover. -26 pips.
6. Long at 1.2318. Closed at 1.2297 due to new crossover. -21 pips.
7. Short at 1.2297. Closed at 1.2262 due to new crossover. +35 pips.
8. Long at 1.2262. Closed at 1.2354 when 50-pip trailing stop was hit. +94 pips.
9. Short at 1.2213. Closed at 1.2184 when 50-pip trailing stop was hit. +29 pips.
10. Long at 1.2193. Closed when 50-pip trailing stop was hit at 1.2243. +47 pips
As for my GBP/USD trade idea, I wasn’t able to take it. Yeah, I missed the rally on the pair but I’m not beating up myself for it.
I stuck to my plan. I had my eyes peeled for dojis and bullish marubozus but they didn’t form so I didn’t pull the trigger. On top of that, the BOE and ECB rate decisions also failed to boost the pound.
There’s no use in sulking about missing the boat on GBP/USD. After all, today’s the start of a brand new week and I’m hopeful it will be better than the last.
How did you do? Lemme know!
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.