Score another one for the HLHB System! The previous week’s promising trade was finally closed this week, which enabled this trend-catcher to bag a nice 275 pips. Woot!
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 told you guys about how excited I was that an open GBP/USD trade was already up by hundreds of pips.
This week we finally closed that trade with a nice +357 pips. Yasss!Too bad that fakeouts from EUR/USD took chunks from GBP/USD’s wins. As you can see, there were actually intraweek trend opportunities from all three major dollar pairs in the past couple of days. Unfortunately, the signals that DID pass the HLHB’s parameters turned out to be fakeouts. EUR/USD saw one trade lose 73 pips and another lose 12 pips.
Over the next couple of days it looks like I’ll be nursing long trades on all dollar pairs. I don’t really mind the win-win-win or lose-lose-lose situation, but I hope the winning trades continue to offset the losses!