Another good week for this trend-catcher, which saw a net gain of +317 pips from closing two trades. I’ve got the deets right here!
Before we get to the details, read all about my HLHB Trend Catcher System if this is your first time hearing about it!
Basically, I’m catching trends whenever the 5 EMA crosses above or below the 10 EMA. A trade is only valid if RSI crosses above or below the 50.00 mark when the signal pops up. And in this version, I’m adding ADX>25 to weed out the fakeouts.
As for stops, I’ll continue to use a 150-pip trailing stop and a profit target of 400 pips. This might change in the future, but I’ll stick to this one for now.
Oh, and as mentioned before, I’m switching back to applying the HLHB system to the 1-hour time frame. Using 4-hour in Q1 2017 and Q2 2017 wasn’t bad, but I think using this trend-catcher on the 1-hour could yield better results.
EUR/USDEUR/USD saw a one-directional move throughout the week, but it wasn’t until Wednesday when the system validated not one, but TWO signals.
The first one turned out to be a fakeout. The second signal got it right though. In fact, the open trade has now locked in 103 pips thanks to the strong intraweek trend!
While GBP/USD saw a strong one-directional price action, the pair didn’t pause long enough to throw on signals valid enough for the HLHB’s parameters.
No trade on this one, folks!
USD/JPYThis one is still a tossup. As you can see, the HLHB validated a sell signal during a range-like move and it looks like the trade is on the opposite side of USD/JPY’s uptrend.
My fingers are crossed that the pair will turn around long enough to lock in more pips!
Here’s a summary of this week’s results:
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