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Aaand it’s another miss! Thanks to a new signal, the HLHB had to close a promising trade at a loss. Here’s what happened.

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.

EUR/USD

EUR/USD 1-Hour Forex Chart
EUR/USD 1-Hour Forex Chart

GBP/USD

GBP/USD 1-Hour Forex Chart
GBP/USD 1-Hour Forex Chart

USD/JPY

USD/JPY 1-Hour Forex Chart
USD/JPY 1-Hour Forex Chart

Unlike in last week’s trading, there was only one fresh signal from the HLHB this week. And unfortunately, it didn’t really bring in tons of pips for this trend-catcher.

EUR/USD popped up a valid signal around 1.1370, which effectively closed last week’s sell trade that was adjusted to only reflect a 40-pip loss.

USD/JPY also moved in the opposite direction of last week’s open trade, but this time the stops were already adjusted to a 12-pip win before price hit its adjusted stop. Phew!

Over the next couple of days it looks like I’ll only be nursing one open trade. Question is, will the end-of-month shenanigans inspire new valid signals to pop up?

More importantly, will the pairs move strongly enough for us to catch some trend-related pips?

Huck's Signature