“Huck loves her bucks!” I always say. The problem, of course, is how to make those bucks!! In this blog, I'll be posting my adventures as I traverse the forex world, while trying to catch some pips along the way. To do this, I will make use of classical charting methods as well as develop my own Oooh, la la! My HLHB Trend-Catcher definitely lived up to its name last week and racked in pips!
HLHB Trend-Catcher
My HLHB Trend-Catcher definitely lived up to its name last week and racked in pips! Not only that, my system was also able to filter out fakeouts.
A breakdown of the crossovers that materialized shows that only five turned out to be valid trades. The RSI did a pretty good job in limiting the system's losses. Take a look!
1. Long at 1.2869. Trailing stop hit at 1.2890. +21 pips.
2. Invalid signal since RSI was not below 50.
3. Invalid signal since RSI was already above 50.0 prior the crossover candle.
4. Invalid signal since RIS was not below 50.
5. Long at 1.2927. Closed due to new crossover at 1.2904. -23 pips.
6. Short at 1.2904. Closed due to new crossover at 1.2910. -6 pips.
7. Long at 1.2910. Closed due to new crossover at 1.3003. +93 pips.
8. Invalid signal since RSI was not below 50.
9. Invalid signal since RSI was already below 50.0 prior the crossover candle.
Total pips gained (including the prior week's trade): +126 pips
Including the prior week's last trade (short at 1.2895 which closed at 1.2854 with a 41-pip gain when the trailing stop got hit), the HLHB Trend-Catcher was up by 126 pips. Woohoo!
USD/JPY Trade
As for my USD/JPY short, I'm still holding on to it. In addition, I also added another position as price is testing a major falling trend line. Given enough time, I think my trade will work out. For now, I'll just have to wait and see.
XOXO,
Huck
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