Finally, a winning week! After back-to-back losing weeks, the HLHB is back to making pips. 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.
Unlike in the previous week, the HLHB actually had more valid trades this time around.
The winningest signal came from Cable, which popped up a buy signal just before it shot up by 100 pips or so. The pair then validated some fakeouts, but even those weren’t enough to offset the gains from the first trade.
USD/JPY also validated a fakeout or two throughout the week, but the pair was in a tight range that the losses were minimal. Finally, EUR/USD didn’t have any valid signals so the previous week’s long trade is still open.
Not a bad week, overall, with the HLHB clocking in a net gain of 179 pips (+0.60%) from a total of five trades.
It looks like this trend-catcher is starting the next week with open trades on ALL three of the pairs that I’m watching. I’m crossing my fingers for strong trends (in the HLHB’s favor) ahead!