What a close call! Gains from a few trades were ALMOST wiped out by one big loss this week.
Can you guess which pair saw a validated fakeout?
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
Unfortunately, HLHB also validated a SHORT trade somewhere in the middle of the week and hit its maximum stop allotted for the trade.
Boo!
GBP/USD
GBP/USD traded higher in the first half of the week and then traded in a range in the second half of it.
The HLHB validated two during the ranging part of the show, which wasn’t half bad as it closed the trade from the previous week in the green and only minimized the losses from one of the fresh signals.
USD/JPY
Right now the HLHB is holding on to another short trade, this time one that can only lose a max of 86 pips.
Not bad, huh?
Here’s a summary of this week’s results:
