Remember that crossover I pointed out in my update last week?
It turns out that my 30-pip filter kept me from catching a 300-pip move. Drats!
The candle following the crossover didn’t go above 30-pips of the crossover candle.
If it popped up 10 pips more to 1.4218, it would have been a valid long trade and my HLHB system could’ve easily hit its first profit target at 1.4368.
It rallied another 150 pips more and yesterday I could’ve adjusted my stop and made it a risk-free trade.
This week, the tug-o-pips between buyers and sellers were neck-and-neck.
Mixed data and sovereign debt woes from the eurozone weighed down the euro while plain old bad economic reports from the U.S. and speculations of further quantitative easing took a toll on the dollar’s performance.
However, yesterday the euro came out victorious against the dollar when the Spanish bond auction was concluded as an epic win.
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