HLHB popped up a lot of signals last week! And while a cringe-worthy loss from USD/JPY made a dent, the series of small gains still inspired a net win. 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 third week of October:
First, the good news. As you can see, HLHB put up a good number of gains last week with all the major dollar pairs finally showing momentum.
Bad news is that, like a cringe-worthy memory from high school, last week’s (open) fakeout still haunted USD/JPY. HLHB opened the week with a loss on USD/JPY!
All three major pairs that I’m watching currently have open trades, so my fingers are crossed that the dollar would continue to trend on the 1-hour time frame and extend this trend-catcher’s gains.