HLHB Trend-Catcher 3.0
Well, whaddaya know! The last signal from last week turned out to be a winner. On top of that, my HLHB Trend-Catcher 3.0 racked up pips this week!
I wasn’t that happy with how my system performed last week. But luckily, EUR/USD was finally able to break out of its consolidation and allowed the Trend-Catcher 3.0 to end this week with a handful of pips!
Here’s a rundown of the signals that materialized:
1. Bought at 1.3242 (signal from last week), closed at 1.3293. Trailing stop hit: +51 pips.
2. Crossover at 1.3447, not valid. RSI was not below 50.
3. Bought at 1.3413, closed on new crossover at 1.3424: +11 pips.
4. Sold at 1.3424, closed on new crossover at 1.3452: -28 pips.
5. Bought at 1.3452, closed on new crossover at 1.3456: +4 pips.
6. Sold at 1.3456. Maximum profit target was hit at 1.3332: +124 pips.
7. Bought at 1.3327, closed on new crossover at 1.3311: – 16 pips.
8. Sold at 1.3311, trade still open…
Doing the math, my system is up 146 pips for the week. Ain’t so bad, eh?
My EUR/USD trade hasn’t moved much. Yesterday, the pair just consolidated within a very tight range due to the absence of market-moving data. I suspect this could change very soon as swing traders close shop for the weekend and long-term traders start positioning themselves for March.
Even though there aren’t any major news releases today, I think that price action is on my side. If you look at the 1-hour chart of EUR/USD, you’ll see that the pair seems to have formed a bearish flag just above the 1.3300 level too.
If this major level break, I suspect we’ll see a strong move towards 1.3100! I’m crossing my fingers for this!
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