After winning almost 200 pips last week, the HLHB took a chill pill and lost some pips this week.
But I’m not too worried. I mean, have you seen what USD/JPY’s rally has done to the HLHB’s long trade?
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 in a relatively tight range for most of the week, which made it unlucky that the HLHB had validated a long trade around the week’s highs.
The new trade forced the previous week’s short at a small loss.
Think the current long position can still win pips? EUR/USD closed the week near its highs so it’s still possible to see some upside action in the next few days. Fingers crossed!
Cable also traded inside a range this week. The only difference is that the HLHB had validated three new signals this time. Boo!
Luckily, signal #2 erased the losses from the previous week’s open trade and lessened the blow for this trend-catcher.
The HLHB now has a short trade open that can only lose a max of 68 pips.
USD/JPYNow this is trend-catching!
Though USD/JPY didn’t see new valid signals this week, the previous week’s long signal was able to catch most of USD/JPY’s uptrend in the last couple of days.
The long trade is still open and can only lose 13 pips max. Now if USD/JPY would just cooperate and maybe inch a few pips higher then maybe I can start to lock in some profits…
Here’s a summary of the open and closed trades from this week’s trading!