After last week’s bloodbath, the HLHB took it easy this week with only one valid signal. Can you guess which pair the signal came from?
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.
EUR/USD
GBP/USD
USD/JPY
In last week’s update I showed you guys how the dollar’s one-directional move did NOT work for the HLHB’s trades that were opened the week before the big moves started.
Well, it looks like this trend-catcher took a chill pill this week. As you can see, it only validated one signal from GBP/USD. Good thing it was on the right side this time!
While GBP/USD’s short trade is not yet closed, price has already moved so that the trade’s losses are limited to 82 pips.
I just hope that next week’s volatility turns in favor of this trade. If not, I’m keeping my eyes peeled for new trades that might gain the HLHB some pips.
HLHB Trend-Catcher System Q1 2019 Results
Reviewing my 2018 Forex Trades