Last week’s promising trades turned to profitable closed positions this week!
Check out the signals that made this trend catcher pips in the last few days.
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.
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/USDEUR/USD saw a solid upside momentum in the first half of the week.
This didn’t do the open short trade any favors as it limited its gains.
Luckily, the HLHB also validated a short signal shortly before EUR/USD’s trip to near its weekly open. It’s currently open and can only lose a maximum of 41 pips. Not bad, huh?
Like in EUR/USD, Cable’s upswing in the first part of the week resulted in the open trade from the previous week hitting an adjusted stop loss.
There were no new signals from GBP/USD but profits from the closed position still contributed to the HLHB’s pips this week. Woot!
USD/JPYHLHB had no open trades on USD/JPY from the previous week which was a good thing because the pair was all over the charts in the last few days.
It did validate a long signal near the end of the week, though, which means that I have to watch out for the dollar possibly gaining ground against the yen.
Looks like I’ll be starting the last week of June with a pro-dollar bias. Think a short EUR/USD and a long USD/JPY position will work out?
Here’s a summary of HLHB’s numbers: