Winner winner, I’m having plant-based “steak” for dinner!
Thanks to adjusted stop losses being hit, the HLHB closed FOUR winning trades this week.
Check out the numbers!
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/USDWhile EUR/USD saw an uptrend early in the week, the momentum was strong enough that there was no RSI cross during the period.
The HLHB only caught a valid signal when the euro dropped sharply enough while the ADX was still above the 23 level.
By the end of the week, the HLHB had closed last week’s open position with a 45-pip win while the open trade can only lose a max of 65 pips. Not bad, I think.
Like in EUR/USD, GBP/USD also saw strong moves for most of the week but didn’t catch valid signals until near the weekend.
The HLHB had to close an open trade with a 72-pip win while the only valid signal is still open with a max stop loss of 41 pips.
USD/JPYUSD/JPY started the week with a strong downswing, which worked well for an open short trade from the previous week.
There were two new signals for the HLHB this time with one of them closing with a 12-pip gain.
Overall, the HLHB gained a cool 254 pips with USD/JPY’s 125-pip trade doing the heavy lifting.
I hope to see more of these strong directional moves in the next couple of days!
Here’s a summary of last week’s trades: