The HLHB may have sustained one or two losses this week, but a few big wins from Cable kept the mechanical system in the green.
Check out how the HLHB ended the week with 217 pips!
Before we get to the details, 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/USDAn open short trade from the previous week was closed at a 65-pip loss after EUR/USD briefly traded above the big 1.2000 handle.
It wasn’t until the pair dipped back to the 1.1800 zone when the HLHB validated a long trade.
The trade remains open for the week ahead with its stop limited to 128 pips.
As mentioned last week, the HLHB had already locked in pips from a long trade even before this week started.
The open trade was closed for a 214-pip profit (YAY!) before the HLHB validated three more signals in the succeeding days.
Thanks to another big win, the HLHB capped the week with a net win of 237 pips from Cable. Woot!
USD/JPYUSD/JPY traded on a slow and unsteady uptrend for most of the week.
An open trade from last week had to be closed for a 45-pip profit when the HLHB validated a long signal on Tuesday.
Fortunately for this trend-catcher, the signal had already caught some of USD/JPY’s upswing and can now only lose a maximum of 77 pips. Not bad, huh?
Here’s a summary of last week’s trades: