After weeks of waiting, this trend catcher has finally caught not one, but TWO valid signals! 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 second week of July:
Looks like GBP/USD’s signal turned out to be a fakeout! The pair only dropped by around 70 pips from the previous week’s closing price before it did a mid-week U-turn sharp enough to trigger the adjusted stop loss.
All’s still good, though, as USD/JPY popped up a valid signal this week. What’s more, the pair’s move is so sharp that I’ve already adjusted the stop loss to break even! Fingers crossed for more losses for USD/JPY!
Hmm, it looks like USD/JPY has been making most of the HLHB Trend-Catcher’s pips so far this year. Is it because EUR/USD and GBP/USD are too choppy? Or do the HLHB’s parameters – when applied to 4-hour charts – only work on REALLY strong trends?
That’s it for my update this week! Not a bad week overall, but it also could’ve been better. I’m really excited to see how USD/JPY’s trade turns out!