The HLHB was able to catch trends this week!
Check out how closing one GBP/USD trade helped push this trend catcher’s gains to 300 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.
There were no valid signals for the HLHB to work on but the euro’s weakness helped me lock in 10 pips for an open position from the previous week.
Not bad for a no-new-signal week, eh?
Cable also traded in a range before the dollar bulls did damage across the board and dragged GBP/USD lower.
Unlike in EUR/USD, a signal was validated near the end of the week and near the pair’s intraweek lows.
Not only did the signal set the HLHB up for a win if GBP gains strength, but the new trade meant closing last week’s position for a cool 273-pip win!
The HLHB caught a valid signal on USD/JPY near the end of the week and that meant closing an open position for a 27-pip profit.
USD/JPY hasn’t really moved much since popping up a valid signal, though, so I’m going to wait and see if the position – which can only lose a max of 121 pips – can turn a profit.
Here’s a summary of the open and closed trades from the last couple of days’ worth of trading: