After last week’s bloodbath, I’m glad the HLHB caught decent pips from the majors this week!
Check out how the trend-catcher got 299 pips from all the brouhaha.
Before we get to the details, read all about my HLHB Trend Catcher System if this is your first time hearing about it!
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/USDAs you can see, there was only one valid trade from EUR/USD.
Fortunately, it showed up in favor of last week’s open trade AND just before price action moved in the direction of the trade.
I’ve already adjusted the stop on the trade so that it can only lose a max of 5 pips. Not bad, huh?
The HLHB got benevolent with Cable this week and validated THREE signals.
The first one closed with a small loss thanks to a new sell signal.
The second one turned out pretty well especially after a valid long trade closed it for a profit.
Think the third trade can also gain pips? Or will GBP/USD extend its downtrend next week?
USD/JPYThere were no valid signals from USD/JPY this week, which is unfortunate because it had the strongest and most consistent one-directional move throughout the week.
Oh well, maybe next week?
Here’s a summary of this week’s results: