After weeks of losses, this trend-catcher has finally ended a week in the green! I’ve got the deets on what happened in the last couple of days.
Before we get to the details, 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.
After last week’s bloodbath, I’m glad to see that the HLHB finally closed a week with positive pips.
One thing that’s different about this week is that, aside from USD/JPY’s fakeout some time in the middle of the week, the HLHB System was actually able to catch big moves before or as they happened.
EUR/USD’s signal from the previous week even added nice a bonus as it closed with +76 pips when a new signal popped up.
Over the next couple of days I’ll be nursing THREE anti-dollar trades with longs on EUR/USD and GBP/USD and a short USD/JPY position.
Now that the three pairs are finally showing one-directional moves that the system is designed for, I’m pretty hopeful about the HLHB’s prospects in the week ahead!