Two winning trades put the HLHB in the green this week.
Can you guess which currency pairs yielded pips?
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 in a 60ish-pip range for most of the week before a strong pro-dollar move dragged the pair to new intraweek lows.
The first valid signal didn’t really do much for the HLHB but I’m pretty optimistic about the second one because it showed up just before EUR/USD dropped like a rock.
Its stops have been adjusted to a max of 71 pips going into next week!
The HLHB also had a good run from Cable, which also traded in a tight range before seeing a sharp downswing on Thursday.
There was one signal that was validated and not only did it allow me to close last week’s open position for a 121-pip profit but it also set the HLHB up for a trade that can now only lose a max of 69 pips. Hurrah!
USD/JPY had a wonkier week than EUR/USD and GBP/USD but that didn’t stop the HLHB from sneaking in some pips!
There was a valid long trade signal near the end of the week which enabled me to close last week’s open position for a cool 57 pips.
USD/JPY has now moved lower so that the most recent open position can only lose a max of 125 pips. Not bad, I think.
Here’s a summary of the open and closed trades from the last couple of days’ worth of trading: