No new signal from the HLHB System during the week, but I did manage to adjust the stop loss on an open USD/JPY trade. Here’s what’s up!
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 last full week of May:
As you can see, there were no valid signals from the HLHB Trend-Catcher System during the week. In this case, it’s probably a good thing because EUR/USD, GBP/USD, and USD/JPY just traded on a tight range for the most part.
Perhaps the closest signal came from GBP/USD, which showed a sell signal just as the week was about to end. Unfortunately, ADX was below 25 at the time.
For now, the only thing left on the list is the long USD/JPY position, which popped up to high of 112.66 and enabled me to adjust my stop and limit my losses to 98 pips.
Fingers crossed for more trades and better trends next week!
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!