Back to back! Like in the previous week, one big win managed to ease the sting of a losing trade.
I’ve got the numbers for the previous week!
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/USDThe HLHB may have missed EUR/USD’s upswing in the first half of the week but it didn’t miss the euro’s weakness near the week’s end!
We saw two valid signals on the pair but they had the same bias so they almost canceled out.
The remaining open trade now has an adjusted stop to reflect a max loss of 66 pips. Not bad, eh?
There were no new valid signals from Cable in the past couple of days, which would’ve been fine if the pair had gone low enough for last week’s open position to lock in some pips.
Thanks to some pound strength, however, the HLHB closed the open short with a 32-pip loss.
GBP/USD who? In last week’s update, it was Cable’s signal that brought tons of pips for the HLHB.Well, it looks like it’s USD/JPY’s time to shine this time!
There was only one signal from USD/JPY but it was enough to close last week’s trade that was already up by 141 pips before the week started.
Fortunately, the HLHB was able to eke out a few more pips before it had to close the winning trade to open a valid signal.
Here’s a summary of last week’s trades: