Juuust missed the positive mark! A losing trade might have canceled out a nice win on the HLHB’s scorecard last week, but I’m feeling good about the open trades that I have over the next few days.
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.
In last week’s update, I shared with you guys how I might have jinxed the HLHB’s winning streak by talking about it.
The jinx lives on this week!
See, there were new trades from ALL three of the major dollar pairs that I’m watching, which made it necessary for me to close the open ones that I had from the previous week.
This resulted to a nice 77-pip gain from USD/JPY, but it also brought an 84-pip dent from the open trade I had on Cable. Yikes.
I’m still pretty optimistic though! I have three new trades to watch over the next couple of days. USD/JPY and EUR/USD are both anti-dollar, while GBP/USD’s trade is betting on more pound weakness.
Based on what I’m seeing on the forex calendar, we’re in for a pretty eventful week. Think this week’s trades are positioned well for the potential market-movers? I sure hope so!