It was a pretty good week for the HLHB System, which took home pips from the previous week’s open positions.
This trend-catcher caught 208 pips from 6 closed trades!
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
The strong move inspired a lot of crossovers from the pair and the HLHB ended up validating THREE signals before we even hit the mid-week mark.
Fortunately, signal #2 worked out pretty well and caught most of the start-of-the-week moves. Phew!
GBP/USD
Cable also saw a strong upswing at the start of the week but, unlike in EUR/USD, the HLHB didn’t see any signal to validate while the pound was making pips rain against the dollar.
Still, the pound’s strength meant that I had to close a short trade from the previous week with a 68-pip profit. Not bad, huh?
USD/JPY
Luckily, a short signal from the previous week closed with a 109-pip profit and canceled out the fakeout that was validated some time in the middle of the week.
Here’s a summary of the open and closed trades from the last couple of days’ worth of trading:
