No new signals from either EUR/USD or GBP/USD, but USD/JPY saw a bit of action. 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 last full week of May:
After weeks of waiting, I finally closed my long USD/JPY trade! Unfortunately, last week’s stop adjustment was the trade’s best bet because the pair soon turned around and hit the adjusted SL. I ended up with a 98-pip loss in the end.
Moving on, there were no new signals from either EUR/USD or GBP/USD. Though the HLHB threw popped up a lot of potential trades, they’re often invalidated by the RSI and ADX filters.
One signal that managed to pass muster is a short trade on USD/JPY, which showed up after a VERY strong move near the end of the week. The trade is still open and, since the pair hasn’t made new lows, I’m keeping the original stop loss of 150 pips.
I hope I’ll be able to adjust the stop to limit the losses 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!