It’s a brand new year and the majors hit the ground running with not one, not two, but a total of NINE new signals in the last few days.
How did they turn out?
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/USDEUR/USD traded on a choppy and gradual uptrend in the first half of the week.
Unfortunately for the HLHB, the pair was all over the place and had enough momentum to pass through the system’s filters.
The last signal looks promising though, as it has already locked in 30 pips before the week even ended. That’s already more than half of the HLHB’s losses from EUR/USD!
GBP/USD didn’t see as much action compared to the other majors. This is probably why the HLHB also steered clear from valid signals until the end of the week when it validated a short trade.
Fingers crossed that the open trade is in the right direction for next week’s trends!
The HLHB had a mixed week from USD/JPY after it validated two signals when the pair was in a range.
But worry not! Valid signal #3 is actually on track with its adjusted stops locked in to minimize HLHB’s losses to 23 pips.
Here’s a summary of the open and closed trades from this week’s trading!