A not-so-bad week for the HLHB System, as it managed to eke out pips despite a ranging environment for the forex majors. Here are the numbers!
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:
Though the numbers aren’t as good as last week’s phenomenal trades, I’m still pretty happy about last week’s trades.
EUR/USD saw some whipsaw action and a lot of fakeouts, but GBP/USD’s trade – which had been open since the previous week – made up for the losses with a nice 43-pip gain. USD/JPY also contributed with a 10-pip trade and a promising one open till next week.
So far so good, though I’m still looking to see if I can optimize the intraweek moves by placing tighter trailing stops. But that’s for later. For now, my fingers are crossed for more trendy price action in the week ahead!