So far so good! Thanks to a big win on Cable, the HLHB System was able to take home pips for the week. 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 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.
Both EUR/USD and USD/JPY saw strong intraweek trends in the last couple of days. USD/JPY popped up two fresh signals while EUR/USD’s slow and steady moves didn’t trigger any valid trade signal.
Funnily enough, it was in GBP/USD’s price action where the HLHB System got most of its pips.
Specifically, a 128-pip trade wiped out the small fakeouts we’ve seen throughout the week.
But that was last week. This week, it looks like this trend-catcher has long positions opened for all three pairs. It would be interesting to see which way the dollar’s price action will go!
Will we see more dollar strength? Or will the bears finally step in and force a reversal?