A pretty good week for the HLHB System, as a promising forex signal played out well. And hey, looks like another winner is coming!
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.
USD/JPYAs you can see, there were no new signals from both EUR/USD and GBP/USD. Unfortunately, EUR/USD popped up just enough to take out my adjusted stop loss from the previous week.
Lucky for me, a new Cable signal enabled me to almost max out a long GBP move before a new (and accurate) signal popped up.
Fingers crossed that my open trade is on the right side for NFP week price action!
Here are the numbers: