It was a pretty good week for the HLHB, which saw tons of fakeouts but also closed the week with 117 pips in the bag.
Not bad at all!
Before I show you last week’s numbers, make sure to 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 before, 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.
EUR/USD
Luckily for the HLHB, it caught much of the start-of-the-week upswing and only lost 15 pips from the first validated fakeout.
The third valid signal is still open and has its stops adjusted to a maximum of 123 pips.
GBP/USD
Cable didn’t really go anywhere this week but we did see wide swings that would’ve made this trend-catcher a pip or two.
The HLHB ended up validating just one signal, which led to closing a long trade from the previous week for a 159-pip profit.
The valid signal remains open and can only lose a max of 103 pips.
USD/JPY
The HLHB validated some fakeouts during the week but it also caught most of the downswing that happened on Thursday and Friday. The trade is still open but the stops have been adjusted so that the trade can lose 56 pips max!
Here’s a summary of the open and closed trades from the last couple of days’ worth of trading:
