Hi, forex friends! Last week we opened not one, but TWO new trades. Here’s how they’ve fared since then.
But first, read all about my HLHB Trend Catcher System if this is your first time hearing about it!
As I’ve mentioned before, I’ve decided to stick to my second tweak in my forward tests for the next couple of weeks.
Basically, I’m adding the ADX indicator as a filter on top of the RSI and applying all of them on the 4-hour time frame instead of last year’s 1-hour charts.
Here are the results from the last week of July:
As you can see on the charts above, there were no valid signals from EUR/USD, GBP/USD, and USD/JPY even though they all had pretty decent intraweek trends.
Luckily for the HLHB System, it’s already in on EUR/USD and USD/JPY’s trends. However, I was forced to close the USD/JPY position when it hit an adjusted stop loss. Guess USD/JPY’s trend wasn’t as consistent as EUR/USD’s!
Still, +163 pips is +163 pips. For now, I only have my long EUR/USD trade open with +242 pips locked in. I’m looking forward to locking in more gains on EUR/USD and maybe get a valid signal on GBP/USD to maximize its strong trends too.
Catch ya tomorrow with my Trading Prep update!