It’s a back-to-back win! Thanks to an open trade from the previous week, the HLHB clocked in its second winning week in a row. 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.
Last week I told you guys about closing an open Cable trade that led to +45 pips.
Well, the HLHB just had a déjà vu this week! As you can see, a new valid signal from GBP/USD necessitated the closure of last week’s short trade. Thankfully, the pair had dropped sharply by then and has secured 204 pips by the time I had to close it.
The next couple of days are also looking bright. For one thing, I have open trades on ALL three major pairs and all of them will gain from bullish moves.
Will dollar bulls gain some momentum this week? Or will the bears continue to drag the Greenback lower?
I can’t wait to see what next week’s volatility brings!