A pretty brutal week for the HLHB, as most of last week’s open positions closed in the red.
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.
Last week I talked to you guys about three open positions that I had going into the week. Not just any three positions, too. They were ALL pro dollar!
Unfortunately for the system, the one-sided bias didn’t work out. Like, at all.
See, there was wild anti-dollar bias across the board that went on for days, enough to hit the adjusted stop loss of my open trades AND the one new valid signal that the HLHB caught. Boo!
No new trades for me going into the week. While I’m loving the strong intraweek trends on the major dollar pairs, I’m hoping that the HLHB would soon gain some pips from all the action.
My fingers are crossed!