After a week of hiccup, this trend-catcher is back to churning out positive pips! Here are the deets on how the HLHB System gained a cool +362 pips.
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 before, 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 you can see, only EUR/USD and USD/JPY popped up valid signals in the last couple of days.
But who needs new signals when your open trades are as pip-making as Cable’s last week?
A huge pop on GBP/USD’s 1-hour chart was enough for me to adjust my stop loss to 1.3149, a level that was hit when the bears swooped in near the end of the week.
That alone would’ve been enough reason to celebrate. Fortunately, EUR/USD and USD/JPY also showed one valid signal each while the existing trades were in positive territory.
By the end of the week, the HLHB caught a nice +362 pips from closing last week’s open signals. Not bad at all, eh?
Over the next couple of days I see that the HLHB is starting with long trades on EUR/USD and USD/JPY.
Which pair will yield more pips? Will Cable pop up another winner?
Can’t wait to see what next week’s charts bring!