Hey, guys! Had a really good forex trading week last week, as this trend-catcher system closed TWO trades that yielded a total of 537 pips. Woohoo!
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.
In last week’s update I mentioned that I wasn’t too worried about recent losses because HLHB’s open trades showed a lot of promise.
Fortunately, all that potential translated into massive gains for this trend-catcher. GBP/USD’s 167-pip winner, for example, fell lower and took out HLHB’s 400-pip profit target. Meanwhile, a new signal cut off USD/JPY’s uptrend to lock in 137 pips.
The HLHB System has two open trades going into this week. A EUR/USD short already has +167 pips locked in, while a USD/JPY trade looks like it’s just getting momentum.
Anyway, here are the numbers:
I’m pretty set in case the trend reverses over the next couple of days, but I’m still keeping my fingers crossed for trend continuation for the week ahead!