Another uneventful forex trading week for the HLHB System, as it showed no valid signals for the week. Luckily, I still have my EUR/USD trend trade open!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
As I’ve mentioned before, I’ve decided to stick to my second tweak in my forward tests for the next couple of weeks. Basically, I’m adding the ADX indicator as a filter on top of the RSI and applying all of them on the 4-hour time frame instead of last year’s 1-hour charts.
Here are the results from the first week of April:
As you can see on the chart above, there were no valid signals from ALL three currency pairs in early April.
There was no crossover in EUR/USD’s chart in both times that the pair threw a signal. GBP/USD’s third signal would’ve been a pretty good trade if ADX had just climbed above the 25.00 mark.
USD/JPY popped up the most legit signal with its short arrow right before the pair dropped consistently. Unfortunately, the signal was also invalidated by the ADX staying below the HLHB’s set parameters.
Still not a bad week overall for the HLHB. Fortunately, we still have ONE open trade left and it’s a EUR/USD short at 1.0813. Thanks to the Monday lows, the system has now locked in 94 pips from the trade.
Read my March 27 update if you didn’t catch the entry!
That’s it for my HLHB update for now! Let me know if you have any questions on the system and on the signals above!
P.S.: Remember to never risk more than 1% of a trading account on any single trade and to adjust position sizes accordingly. Create your own ideas and don’t follow what I do. Better yet, read the Risk Disclosure!
This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.