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No valid signals for the HLHB this week!

Luckily, last week’s open trades kept it interesting for the trend catcher.

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

EUR/USD 1-Hour Forex Chart
EUR/USD 1-Hour Forex Chart

EUR/USD traded on a slow and steady downtrend before it found support near the end of the week.

The HLHB didn’t get any action from that downtrend. In fact, the trend-catcher even had an open long position on the pair!

Fortunately, the HLHB had already locked in 23 pips from the previous week’s move. Phew!

GBP/USD

GBP/USD 1-Hour Forex Chart
GBP/USD 1-Hour Forex Chart

Like in EUR/USD, the HLHB also had a long position going on in Cable from the previous week.

This time around, the system was able to lock in a decent 33 pips before it succumbed to this downtrend.

USD/JPY

USD/JPY 1-Hour Forex Chart
USD/JPY 1-Hour Forex Chart

Now this was a closer one! See, the HLHB had a short trade on USD/JPY from two weeks ago.

Thanks to a bit of downswing, the system was able to lock in 14 pips before the dollar found support and bounced high enough to hit the adjusted stop loss.

So, no losses this week but no new trades for the week ahead either.

Here’s a summary of this week’s results:

Huck's Signature