Another pretty good forex trading week for the HLHB System, which caught a net of +290 pips from four closed trades. I have the numbers right here!
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.
As mentioned in last week’s update, this trend-catcher would be starting the week with EUR/USD having +167 pips on its pocket.
Luckily, a new signal popped up to expand last week’s open trade into a 268-pip win. Not only that, but TWO other signals contributed to another +168 pips from EUR/USD!
It wasn’t all sunshine and butterflies, however. As you can see, USD/JPY clocked in TWO losses that cut into EUR/USD’s gains. Cable also didn’t contribute any valid signal despite seeing decent intraweek trends from the pair.
Anyway, here are the numbers from last week:
The HLHB has two open signals coming into the week, but the losses are limited to 88 pips (for EUR/USD) and 40 pips (for USD/JPY). Hoping for pretty strong price action from both pairs to rein in more gains for the HLHB!