A couple of small wins were not enough to offset a big fakeout this week. Luckily, the HLHB has a few promising trades open in the coming week.
Before I show you last week’s numbers, make sure to 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/USD went on a slow and steady downtrend for most of last week.
The move would’ve been more welcome, though, if the HLHB didn’t have an open long trade from the previous week.
For now, the trend catcher has to deal with a 70-pip damage with no new valid signal to hold on to in the week ahead.
Cable was all over the place last week, which didn’t stop the HLHB from validating a short signal during Friday’s Asian session trading.
My fingers are crossed that the pound shows one-directional move enough to propel the HLHB’s open trade to positive territory!
The HLHB validated a short signal right before USD/JPY dropped by less than 100 pips in the first half of the week.
Unfortunately, the dollar didn’t fall down enough for the HLHB to lock in some gains before USD/JPY reversed its losses and made new intraweek gains.
Here’s a summary of the open and closed trades from the last couple of days’ worth of trading: