A pretty decent week for the HLHB, which locked in a 98-pip profit after closing four trades in the last couple of days.
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/USD
But wait, there’s more! The HLHB did a 180 near the end of the week when EUR/USD started gaining upside momentum. Will we see this bullish trend dominate in the coming week?
GBP/USD
While GBP/USD saw a downswing early in the week, the pair dropped slowly enough that the HLHB didn’t catch any valid signal.
Cable is back to ranging tightly, though. Maybe the pattern would lead to an explosive (and one-directional) price action in the next couple of days?
USD/JPY
Luckily, an open trade from the previous week was closed with a 114-pip profit. Not bad!
Here’s a summary of this week’s results:
