No new signals this week, but I did close an open trade from the previous week. Here are the deets!
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 second week of August:
As you can see, there were no new valid signals from all the pairs that I’m watching. RSI was a bit of a problem since it barely crossed the 50 mark for most of the week.
I did close an open trade though! If you recall, I sold EUR/USD near the end of the week last week. Unfortunately, the odds weren’t in favor of the euro bulls as my adjusted stop loss got hit for a net loss of 85 pips. Boo!
So okay, I really don’t think using 4-hour charts works for the system or for me. Next week I’ll be doing some backtesting on the 1-hour to see if it’s worth going back to. Stay tuned for the numbers, mmkay?
That’s it for today’s HLHB shenanigans! Catch ya tomorrow with my Trading Prep update!