Winner winner I had pips for dinner!
Well, at least the HLHB did when it closed the week with a cool +193 pips. Woot!
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/USDThe euro saw slow and steady demand throughout the week though it did see some pullback against the dollar some time in the middle of the week.
Fortunately for the HLHB’s open short trade, the one fresh signal popped up during the retracement and allowed the system to lock in 64 pips in the process.
The current short position already has its stops adjusted to only lose a max of 98 pips in the next few days. I’m hoping to see gains instead of losses!
Much like in EUR/USD, the HLHB also validated a short signal when GBP/USD pulled back a bit from its uptrend.
The new signal helped close last week’s trade for a 10-pip profit and the current trade has its stops limited to 136 pips.
USD/JPYThe HLHB had a busy week on USD/JPY after it validated not one, not two, but FOUR fresh signals. Wowza!
Closing last week’s position for a 90-pip profit helped boost the HLHB’s overall gains while fresh signal #3 also contributed 33 pips.
The HLHB is now long on USD/JPY before the week starts. Think the dollar will see an uptrend against the yen in the next few days?
Here’s a summary of the open and closed trades from this week’s trading!