Back-to-back, yo! Thanks to locked in pips from last week’s open trade, the HLHB was able to weather a fakeout or two from its other currency pairs.
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.
As you can see above, all three of the pairs that I’m watching showed pretty nice trends throughout the week. Unfortunately, the momentum was small enough that the HLHB System invalidated most of the signals.
The only exception is USD/JPY, which caught a nice short trade right before the pair dropped to its weekly lows.
Because the USD/JPY trade is still open, this week’s tally is a product of last week’s open trades.
I closed GBP/USD with a 144-pip win and USD/JPY with a 73-pip win. Luckily, their wins were enough to drown out the 125-pip loss from EUR/USD’s long trade.
Over the next couple of days I only have one USD/JPY trade open. What’s interesting about it is that it clashes with a long USD/JPY trade that I opened recently. I guess it’s a win-win (or lose-lose) situation for me?
Can’t wait to see if the HLHB can win three weeks in a row with next week’s results!