After bleeding pips last week, the HLHB was able to snag some gains and end the week in the green.
Can you guess which pair contributed the most pips to the HLHB’s coffers in the first week of March?
Before we get to the details, 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
The euro’s price action turned out pretty well for the HLHB, which was able to close a 118-pip profit when a sell signal popped up. What’s more, the new valid signal caught most of EUR/USD’s downside move!
For now, the HLHB is keeping the short trade open with at least 18 pips locked in. If there’s a right time to do a Candy shop X Element TikTok, I’m pretty sure this is it.
GBP/USD
Much like the euro, the pound also saw wide ranges against the Greenback this week.
Cable saw a lot more fakeouts, though, which led to the HLHB giving up 47 pips on one signal even though New Trade #2 ended with an 11-pip win.
For now, GBP/USD still has a short trade open with at least 10 pips locked in. Woot!
USD/JPY
Unfortunately for the HLHB, all that aggressive buying did not translate to fresh valid signals for the trend-catcher. In fact, the dollar’s gains led to the HLHB losing 47 pips from a short trade from the previous week. 🙁
Here’s a summary of the open and closed trades from this week’s trading:
