It was a mixed week for the HLHB System, which saw choppy forex price action from almost all currency pairs. Luckily, this trend-catcher was able to eke out a win despite the chop. Here are the deets!
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.
There were no new valid signals from EUR/USD, but the price action was tight enough that last week’s open trade didn’t get stopped out either.
GBP/USD wasn’t so lucky as it saw two fakeouts throughout the week. Meanwhile, USD/JPY had THREE valid signals, which mostly canceled each other out anyway:
But, hey, 9 pips is 9 pips, right? Think we’ll see stronger trends in the days ahead? I sure hope so!