A mix of winning and losing trades resulted in the HLHB System juuust missing the positive mark. I have the numbers on this week’s update!
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.
USD/JPYLooks like the system has failed a back-to-back win! Unlike in last week’s trading, a bunch of new valid signals didn’t lead to a winning week for the HLHB System this week.
As you can see, open trades from the previous week closed with mixed results. EUR/USD saw a 95-pip loss while GBP/USD’s trade closed with 111 pips and USD/JPY closed 68 pips higher.
New signals weren’t much help either. GBP/USD’s only valid signal closed with a 93-pip loss, while USD/JPY’s two trades netted a 4-pip loss.
Can this week’s open trades lead to bigger pips next week? As you can see, I only have one long trade on USD/JPY to open the week. Think it will be enough to put the HLHB in the green again?
If we don’t see a bullish USD/JPY, I hope we at least see strong, one-directional moves on the major dollar pairs next week!