A pretty good week for the HLHB System, as last week’s open trade finally translated to mongo profits for the mech system. Oh, and there are also THREE new trades for the week ahead!
Before we get to the numbers, read all about my HLHB Trend Catcher System if this is your first time hearing about it!
Basically, I’m catching trends whenever the 5 EMA crosses above or below the 10 EMA. A trade is only valid if RSI crosses above or below the 50.00 mark when the signal pops up. And in this version, I’m adding ADX>25 to weed out the fakeouts.
As for stops, I’ll continue to use a 150-pip trailing stop and a profit target of 400 pips. This might change in the future, but I’ll stick to this one for now.
Oh, and as mentioned recently, I’m switching back to applying the HLHB system to the 1-hour time frame. Using 4-hour in Q1 2017 and Q2 2017 wasn’t bad, but I think using this trend-catcher on the 1-hour could yield better results.
Without further ado, let’s take a look at the results from last week:
In last week’s trading we talked about GBP/USD’s trade, which had already locked in 62 pips before the new trading week started.
Fortunately, the signal was left to do its job for most of the week. It caught majority of Cable’s move higher and was able to secure a nice 364 pips when a new signal emerged.
EUR/USD didn’t leave any open trades last week, but it did validate TWO signals this week. The first one was cut off pretty early in the game, so we now have our eyes on a sell signal that can only lose a max of 70 pips.
Last but not the least is a fresh signal on USD/JPY. The pair looks like it’s on one of its tight ranges, though, so I’ll have to cross my fingers a bit longer for this one.
For now, it looks like I have open trades on all the pairs I’m watching. I hope we get more of the trending price action that we’ve seen from GBP/USD in the past week!