What’s worse than one small loss? THREE small losing trades! I’ve got the deets on HLHB’s trading performance this week. Check it out!
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.
As if cutting a winning streak last week wasn’t bad enough, the HLHB System dipped a few pips deeper in the red this week as it sustained three losing trades.
As you can see, a series of fakeouts from GBP/USD’s ranging price action on Thursday cut the previous week’s well-positioned long trade and dragged this trend-catcher 39 pips (-0.13%) lower. Boo!
Will the system get another winning streak before the year ends? Based on long trades open on EUR/USD and GBP/USD and a short position entered on USD/JPY, the HLHB needs a dollar downtrend to make some moolah.
I hope we see less fakeouts and more one-directional moves from the Greenback this week!