A pretty mixed forex trading week for the HLHB System, as I’ve lost a few small trades even as I’m tracking a pretty big win. Here are the deets!
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 third week of September:
Please note that the first two trades are from last week’s open trades. And as you can see, EUR/USD finally hit an adjusted stop loss and was closed for a 33-pip loss. Boo! Luckily, USD/JPY’s uptrend is making pips rain with 297 pips already locked in. Woot! Woot!
This week there were three new signals. EUR/USD popped one up just before the week ended while GBP/USD had two valid sell signals after strong moves. Had to close the first one due before I opened the second one, though.
Overall still not a bad week for this trend-catcher. Though there are still fakeouts, it still proves itself useful in catching the monster moves.
Fingers crossed for more and stronger trends this coming week!