Another profitable forex trading week for the HLHB System, as last week’s open trades translated to more gains for this trend-catcher. 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.
EUR/USD
GBP/USD
USD/JPY
As you can see, there were no new signals from EUR/USD and USD/JPY this week even though both pairs exhibited healthy intraweek trends last week.
Funnily enough, it was Cable that threw valid signals for the week even as it sported a ranging price action. Not only that, but the intraweek signals weren’t even half bad!
The HLHB closed last week’s open trade with +152 pips before it validated three short signals. New signal #3 is still open, though, so we’ll have to see if the HLHB did GBP/USD’s price action justice.
Here are the numbers:
That’s it for my update today! Looks like I’m short Cable going into the week. Think we’ll see a downtrend for the pair? Or will the dollar go back to its bearish ways and lose pips against its major counterparts?
