After back-to-back winning weeks, the HLHB took one big hit that dragged it in the red this week.
Can you guess the pair that yielded the losing 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/USDAfter trading in a tight-ish range early in the week, the euro took heavy losses against the dollar.
Luckily, the HLHB’s adjusted stop loss was just under the week’s low.
This enabled the trend-catcher to keep its long position open and even lock in a total of 35 pips (from last week’s 15 pips).
Cable’s upswing at the start of the week did not do the HLHB’s open short trade any favors.
It’s not all bad though. Thanks to the stops being adjusted, this trend catcher “only” lost 108 pips even though GBP/USD eventually broke above the 1.4000 mark. Phew!
I had to short trade from the previous week when USD/JPY popped up a new signal some time on Tuesday.
The dollar’s trip to the 106.00 area scared me for a while until the pair eventually dipped back to Monday/Tuesday consolidation.
Let’s see how this new short trade fares!
Here’s a summary of the open and closed trades from this week’s trading: