Multiple losses? No problem!
Thanks to a big win on Cable, the HLHB was able to keep its head above water despite two big losses.
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.
Thanks to a validated signal early in the week when EUR/USD was still on a range-y mood, the HLHB not only closed last week’s short signal at a loss, but it also got caught with a new short trade before the euro popped higher.
By the end of the week, the HLHB had sustained a net 272-pip hit from two trades. Boo!
GBP/USD was on a slow and steady climb for most of the week, which was fortunate for the HLHB that had an open long position from the previous week.
There was a valid sell signal at the end of the week that would’ve cemented the long trade’s gains. Turned out, the HLHB didn’t need it!
GBP/USD rose sharply enough that the trade had already met its 400-pip max target even before the sell signal materialized.
As you can see, there were no new signals from USD/JPY this week.The HLHB didn’t need it though, since it still has an open short trade from the previous week.
Though price hasn’t allowed me to close the trade, the position now has 141 pips locked in even before next week starts. Not bad, huh?
Here’s a summary of last week’s trades: