It’s a winning week! The HLHB popped up a lot of signals this week. Luckily, the trades were in the green before the HLHB had to close its open trades. Phew!
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.
Have I finally broken the jinx? Unlike in last week’s trading, the HLHB actually made pips this week. What’s more, it’s a cool +153-pip gain!
As you can see, the winning pips came from EUR/USD and USD/JPY since GBP/USD didn’t show any new valid trades. EUR/USD’s open trade from the previous week was a particularly successful one, as it contributed +84 pips when it caught the pair’s uptrend.
Looks like I’m starting the next couple of days with open trades on all of the major pairs that I’m watching. GBP/USD’s open position is already ahead by 144 pips so I’m not too worried about a few fakeouts.
Hopefully the other open positions do as well as GBP/USD’s!