Last week, last hurrah for the HLHB System in September! Luckily, this trend-catcher netted +221 pips thanks to a huge win for USD/JPY. Woot!
But first, 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 recently, 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.
Without further ado here are the results from the last week of September:
As you can see, EUR/USD’s trade from last week’s update is still open with about 79 pips locked in as profit.
GBP/USD is the biggest loser this week with not one, but TWO losing trades. Last week’s open trade ended with a 58-pip loss when a new valid signal popped up, which didn’t turn out to be worth it since it also lost a net of 121 pips by the end of the week.
As in the backtests of almost all HLHB versions, USD/JPY is the gift that keeps on giving. Last week’s open trade finally met its end this week when price hit 112.25 and hit the pair’s 400-pip profit target. What a way to end the month, eh?
Next week I still have two open trades with only one of them in the green. Let’s see if USD/JPY can pull a back-to-back and win another one with this sell signal!