All THREE positions from last week closed in the green this week.
Will the new open trades also lead to more gains for the HLHB?
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 traded inside a 70ish-pip range until Thursday when strong risk aversion dragged the euro lower against the dollar.
There was only one valid signal and it popped up before EUR/USD made new intraweek lows. I’m not too sad about it, though, because (a) the signal was for a long trade and (b) the trade from last week closed in the green.
For now, I’m holding on to a long trade that can only lose a max of 114 pips. I just hope for the trade’s sake that EUR/USD reverses to the upside soon!
Much like the EUR/USD, Cable also traded inside a range before the pro-dollar sentiment took riskier bets lower across the board later in the week.
I had a long position open from the previous week and, thanks to one valid signal mid-week, it closed with a 41-pip profit.
The only valid signal from GBP/USD is another long trade that can lose a max of 123 pips after the stops have been moved.
Look at the mid-week reversal vibes!
Thanks to a new signal, the HLHB closed last week’s open position for an 8-pip profit and was positioned well for a nice dip for USD/JPY.
The new trade is still open but it can only lose a max of 66 pips after the stops have been adjusted.
Here’s a summary of the open and closed trades from the last couple of days’ worth of trading: