Last week we saw pretty strong trends from the three major pairs but NO new signals from the HLHB. What’s up with that?! Thankfully, we’ve also locked in pips from the open trades that we had.
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.
Unlike in last week’s update, there were no new signals from the HLHB System this week. But also unlike the previous week, we actually saw positive pips this time.
Specifically, GBP/USD’s short trade is up by 43 pips as the pair fell slowly but surely, while USD/JPY’s short also did well with a cool 173 pips locked in.
I haven’t closed either of these trades yet, so I’m still pretty happy that we’re going into the week covering both sides of the dollar’s trades.
I do hope we see valid signals from the HLHB soon, though! The dollar looks like it’s ready for bigger moves in the next couple of days. Which direction do you think will the dollar go?