One big loss! The HLHB System would’ve gotten positive pips this week if GBP/USD had not seen a yuuuge loss. Here’s what’s up!
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.
EUR/USDEUR/USD traded on tight ranges for most of last week. Unfortunately, the system validated a short trade just before the pair popped up like there’s no tomrrow on Friday.
Not all is lost, though! Thanks to last week’s open trade, the HLHB also caught a nice 62-pip gain that helped ease the losses from the fakeouts.
So close! As you can see, the system validated a short trade at the start of GBP/USD’s week.
Unfortunately, it also validated a long trade juuuust before Cable dropped like a rock.
The HLHB sustained a 130-pip loss from the signal, which would’ve hurt more if the system had not gained pips from the other Cable trades.
USD/JPYNow this is trend catching! The HLHB validated a nice long trade just before USD/JPY rocketed in the chart.
Though the trade is still open next week, the HLHB has now locked in a nice 80 pips from the position. Not bad, huh?
Here’s a summary of this week’s results:
Looks like the HLHB is long dollar next week! Can USD/JPY extend its gains and will EUR/USD bears target new 2020 lows? Or will dollar bears step in and change the tides for the dollar?