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Greetings, fellow Happy Hunters! The first trading week of the month is done and  a new week will soon begin. It’s therefore time to take stock of how the two Variants of the Happy Hunter Price Action Trading System fared this past week.

And below are the usual topics that we’ll be covering in today’s update:

If you’re a regular reader, then you may wanna use the relevant jump links above to go directly to the actual review.

But if you’re a new reader, then I insist that you read up on that part.

Must-Read For New Readers

If you’re a first-time reader who stumbled across this write-up for some unknown reason, and you have no idea what this is all about, then just know that I crafted a purely mechanical trading system, pursuant to My 2018 Trading Resolution.

If that piques your interest and if you may wanna know more, then click on the links below to read about the rules of the system.

However, let me just give these statements/disclaimers:

Firstly, I make no claim to the profitability of this system (I’m forward testing it after all), so if you use the system to trade real money without doing your own tests, that’s on you, whether you lose money or get lucky and make money

Secondly, there’s no central exchange for the forex market, so there may be discrepancies in our data feed, and it’s highly probable that I may have a valid signal based on my charts where none exist on yours (and vice versa)

With that out of the way, it’s time to finally discuss how the week went.

Below you’ll find charts of each trading day of the week. And if you’re wondering what the numbers on the charts are about, they refer to the trade #, based on the chronological order when the signal was generated, not necessarily when the trade was opened or closed. And the details of each trade are contained in the table after the charts. Just scroll down.

The Fixed TP Variant’s Trade Details

GBP/NZD: 1-Hour Forex Chart (Apr. 2)
GBP/NZD: 1-Hour Forex Chart (Apr. 2)
GBP/NZD: 1-Hour Forex Chart (Apr. 3)
GBP/NZD: 1-Hour Forex Chart (Apr. 3)
GBP/NZD: 1-Hour Forex Chart (Apr. 4)
GBP/NZD: 1-Hour Forex Chart (Apr. 4)
GBP/NZD: 1-Hour Forex Chart (Apr. 5)
GBP/NZD: 1-Hour Forex Chart (Apr. 5)
GBP/NZD: 1-Hour Forex Chart (Apr. 6)
GBP/NZD: 1-Hour Forex Chart (Apr. 6)

The Trailing Variant’s Trade Details

GBP/NZD: 1-Hour Forex Chart (Apr. 2)
GBP/NZD: 1-Hour Forex Chart (Apr. 2)
GBP/NZD: 1-Hour Forex Chart (Apr. 3)
GBP/NZD: 1-Hour Forex Chart (Apr. 3)
GBP/NZD: 1-Hour Forex Chart (Apr. 4)
GBP/NZD: 1-Hour Forex Chart (Apr. 4)
GBP/NZD: 1-Hour Forex Chart (Apr. 5)
GBP/NZD: 1-Hour Forex Chart (Apr. 5)
GBP/NZD: 1-Hour Forex Chart (Apr. 6)
GBP/NZD: 1-Hour Forex Chart (Apr. 6)

This Week’s Performance

 

The first trading week of April also happens to be a full April week. In other words, all trading days fell on the month of April, so the weekly results are the same as the results presented in the daily update for April 6.

Will there be more choppy price action to come? Well, using classical technical analysis, we can see that GBP/NZD has broken out of the symmetrical triangle that we identified last month.

GBP/NZD: 4-Hour Forex Chart
GBP/NZD: 4-Hour Forex Chart

However, the breakout didn’t lead to a runaway move since sellers immediately rushed in and ultimately caused the pair to move back down.

And as I’ve been pointing out since March, this influx of selling pressure resulted in choppy intraday price action, which then resulted in a lot of losing trades for both Variants.

And looking at the chart above, there’s a good chance that we’ll continue to see choppy price action until the pair either moves higher past 1.9630 or falls below 1.9170. Well, that or we get a fundamental catalyst that will result in a strong bias and cleaner intraday trends.

Anyhow, that’s all for today!

As always, I enjoy your feedback. So if you have any questions, or if you see a possible error in my work somewhere, or if you just want to say “hi” then don’t be shy and write a comment down below!

Cheers!

Happy