It was a pretty good week for the HLHB System, which saw a cool 268-pip win from closing two open trades. I’ve got the numbers on this week’s update!
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.
All three major dollar pairs favored a direction for most of last week. Unfortunately, the only signals that were validated were those that favored the OPPOSITE side of the overall trends.
Still, this week’s fresh signals enabled me to close open trades that were in the green from the previous week. The HLHB is up by 268 pips (+0.89%) including a cool catch from Cable’s strong trend last week!
Over the next couple of days I’ll keep close tabs on all of the HLHB’s fresh trades. Hopefully they’re just “early” entries to next week’s trends as opposed to fakeouts.
My fingers are crossed for more positive pips next week!