Week in Review: 19th May 2014 to 25th May 2014

A relatively quiet week. Opened and won a single trade this week.

TRADES

USDCAD

I spotted a low volatility candle on the close of Monday, and went long on the break of Monday's high. I took profit at 0.5R, although I think I could've played this trade better. There appeared to be a short-term resistance level that I could've taken profit just below. 

Progress of USDHKD carry trade

Price has bounced off 7.75150, about 15 pips above the HK central bank's peg at 7.75000. It could be the HK central bank buying, or it could be traders like myself moving in. 

The position is in profit and I can already sense the temptation to close the trade and take my winnings. Unless something remarkable happens with this trade, I'll probably stop mentioning it in future posts. It's main purpose is to accumulate interest payments in the background.

SYSTEM DEVELOPMENT

My sample size of my double top / double bottom entry signal is now almost 1,000. The results continue to look very positive. I hope to enter the final stage of the backtest by next week, but otherwise there's nothing else to report. I've been struck down by a bug for the last week and felt burnt out from work, trading and backtesting, so my progress has slowed down.