There were tons of signals but not a lot of pips taken home this week.
What the heck happened?!
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.
Fortunately for the HLHB System, the two signals that it had validated were more or less in tune with the intraweek trend.
Both last week’s open position and the first valid trade have closed in the red but a short trade that I’m taking with me at the start of next week can only lose a max of 85 pips for now. Not bad, I think.
Unlike in EUR/USD, Cable bears started the week with a direction in mind.
The tides turned sometime in the middle of the week, though, and GBP/USD closed near its weekly open prices.
Good thing that the HLHB was able to sneak in a net of 48 pips after closing two trades!
The lack of direction didn’t stop the HLHB from validating a couple of signals though. If we count last week’s open position, the HLHB closed four USD/JPY trades this week with a net gain of 39 pips. Woot!
Here’s a summary of the open and closed trades from the last couple of days’ worth of trading: