A pretty good week for the HLHB System, as it scored a nice win on USD/JPY and opened a couple of promising signals from the other pairs. Here are the deets!
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:
Unlike in last week’s trading, the HLHB actually made pretty good attempts at catching the big intraweek trends this week. It managed to snag a win on EUR/USD despite its choppy price action, caught Cable’s rise just as it was seeing an intraweek reversal near 1.4000, and locked in a buy trade on USD/JPY just before it broke above a tight range.
Last week’s activities resulted in a 194-pip win for the system, which takes out most of the sting from the previous week.
Right now the system has open trades on all three currencies, so it would be interesting to see if this trend-catcher can live up to its name again and close these open trades with pips next weeks.
As always, my fingers are crossed! 🙂