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:
As you can see, there were no new valid trade signals from the major pairs during the week. Luckily, last week’s trades on EUR/USD and USD/JPY have yet to hit their adjusted stops and are still open.
EUR/USD has now locked in a neat 148 pips while USD/JPY’s stop is adjusted to reflect a minimum of 124 pips. Not bad considering that last week’s stops still considered small losses, huh? I guess it was kind of a good thing that there were no valid signals to break the combo of these promising trend trades.
I’ll be keeping close watch on these trades and let you know if they manage to extend their gains next week!
Oh, and if you’ve been keeping up with my HLHB tweaks, then you’ll love that I’m working on backtesting the version that I used last year (the one that used 1-hour charts) so I can compare it with the 4-hour version. Feeling excited to see the results? I know I am!
Catch ya tomorrow with my Trading Prep update!