A trend-y week for the dollar means lots of opportunities for the HLHB! I’ve got the deets on how the trend-catcher caught 148 pips with three trades. Woot!
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.
In last week’s update I told you guys about how I had open trades that already had adjusted stop losses.
The dollar’s intraweek trends made the trades better this week by being relatively one-directional. As you can see, EUR/USD and GBP/USD were pretty much on steady uptrends, while USD/JPY’s downtrend also gained traction though not until the second half of the week.
The biggest gainer came from Cable, which closed a 99-pip trade from the previous week’s signals when another valid signal popped up.
Looks like I’m starting the week with open positions on ALL three pairs! Take note that they’re all in favor of extending last week’s anti-dollar themes.
Will dollar bears have enough muscle in their hustle, though? Or will the tides change and take back some of the HLHB’s gains from the past couple of days?