After closing three valid trades, the HLHB has a net profit/loss of… ZERO… for the week? Read on to see how it happened!
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 rode an uptrend after breaking a range from early in the week.
Fortunately, the HLHB was able to validate a long trade almost as soon as the week started.
Though this week’s signal is already 80 pips ahead, I did have to close last week’s short position for a 56-pip loss. Still not a bad deal, I think.
GBP/USDLike other major dollar pairs, GBP/USD also saw explosive price movement throughout the week.
The HLHB didn’t validate any of this week’s signals, though. And, since all trades were closed last week, the trend-catcher didn’t have anything new to trade on Cable for this week or the next.
USD/JPYUSD/JPY was on a free fall as soon as the week started!
Unfortunately, the HLHB didn’t get in on any action until Thursday when the system validated TWO back-to-back signals.
The short bias popped up later, which has allowed me to limit the losses on this trade to 68 pips. Phew!
Here’s a summary of this week’s results:
Thanks to losses from last week’s open trades and a nice 80-pip gain on USD/JPY, the system has… ZERO net pips this week. LOL.
I’m crossing my fingers that March has better numbers in store for the HLHB!