No closed trades for the HLHB this week, but that doesn’t mean that it hasn’t locked profits from the majors! Here’s a breakdown of the system’s open trades.
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.
The pip gods are on the HLHB’s side last week!While there were no new valid signals from EUR/USD and GBP/USD, open trades from the previous week were positioned so that the HLHB was able to take advantage of the dollar’s strength and lock in 11 pips on EUR/USD and 82 pips on Cable.
The system didn’t have any trades on USD/JPY from the previous week, but it did have one valid signal that gained enough pips so that it’s max loss is at 100 pips.
Looks like I’ll be nursing pro-dollar trades at the start of the week! Think we’ll see similarly strong one-directional levels in the next couple of days? Or will pip winds blow the other way and hit these trades’ adjusted stop losses?
Let me know what you think!