There might not be any valid signal from the HLHB System during the week, which turned out to be a good thing for my open trade. Here are the deets!
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:
As you can see, there were no valid signals from the mechanical system during the week. There was a good one on EUR/USD that could’ve yielded a pip or two (or two hundred), but the ADX just didn’t hit above 25 at the time when the signal popped up.
For now, it’s still just me and my open USD/JPY long trade. The stop loss is currently set at 112.83 after the pair hit a high of 114.33, which gives me about 378 pips locked for now. Still not too bad though I would’ve wanted to enter that EUR/USD long trade.
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.