It appears we will have just our second ever negative month here at PipHut this month. Considering we’ve been providing signals since 2008, we consider that a pretty good record, though of course we aren’t satisfied with it any more than you are and we will be reviewing our month’s trades this weekend to see if there are any system tweaks we can make to the false breaks without jeopardizing the system integrity. On first blush false breaks were the major culprit this month, and those false breaks were a lack of market conviction on the initial break. On the vast majority of our signals the forecast direction is spot on – but the market’s almost reluctance to follow through on breaks at first has been frustrating for sure. Check your emails for more analysis this weekend and next week! Also be on the lookout for our new CandlePRO Walk-Through Video this weekend!
Yesterday’s EUR/USD Signal Result: Our EU short (on the 1.3013 support break) was the worst offender yesterday, and the only one that didn’t continue in the forecast direction after the break, moving against us 25 pips before the false break alert closed us out of the position, saving us from a larger loss.
Today’s Signal: After yesterday’s support break price continued to trail upward, eventually peaking under 1.3075. We are short-term bullish on the pair after the break of our aggressive falling resistance yesterday, but will stay flat before the weekend as there are no solid S/R lines to trade at the moment. As a reminder – we close out all trades before the weekend (alerts are sent out). Happy pipping and have a good weekend!
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