No new signals from the HLHB Trend-Catcher last week, which turned out to be a good thing for the system’s long USD/JPY trade. Woot!
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 May:
Much like in the previous week, there were no new signals from the HLHB Trend-Catcher system this week.
This is probably a good thing since the major dollar pairs mostly ranged throughout the week anyway. EUR/USD’s last buy signal could have yielded a pip or two, but we can see that this week’s price action would’ve canceled the move if I had taken it.
USD/JPY trended slowly but surely higher, though, which is good for the long USD/JPY position that the system has been nursing since a couple of weeks back. With the pair hitting highs above 113.00, I’ve now locked in at least 250 pips from the position. Not bad, huh?
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.