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:
- Must-Read For New Readers (click to jump to this part)
- The Fixed TP Variant’s Trade Details (click to jump to this part)
- The Trailing Variant’s Trade Details (click to jump this part)
- This Week’s Performance (click to jump to this part)
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.
By the way, if you need to check out the previous week’s performance, then go ahead and click on the link below.
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.
- The Happy Hunter Price Action System 4.0 (Fixed TP Variant)
- The Happy Hunter Price Action System 4.0 (Trailing Variant)
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
The Trailing Variant’s Trade Details
This Week’s Performance
The Happy Hunter Trading System had a mixed performance this week since the Fixed TP Variant did well while the Trailing Variant barely budged.
As to why the Trailing Variant underperformed, well, volatility is still actually limited, given that the daily ranges this past week were all below GBP/NZD’s 225-pip historical average.
- April 9 – 113 pips
- April 10 – 136 pips
- April 11 – 97 pips
- April 12 – 145 pips
- April 13 – 155 pips
Basically, there weren’t really any strong intraday trends. There was a nice two-day trend from April 12-13, but the choppy intraday price action meant that the Trailing Variant just couldn’t ride it.
Anyhow, the choppy price action is to be expected, I suppose. I did mention last week that 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.
And looking at GBP/NZD’s chart using classical technical analysis, we can see that the pair bounced off 1.9170 and is now testing 1.9410.
It’s therefore reasonable to expect that intraday price action will likely continue to be choppy. Bulls seem to be winning out, though, so if the pair clears 1.9410, then 1.9630 will be next and then we can expect smooth sailing after that.
And who knows? Maybe the pair will move higher this week since there are a bunch of top-tier U.K. economic reports coming up. And they may all end up reinforcing expectations for a May rate hike.
At the same time, Trump’s missile strike on Syria (and the growing possibility of WW3) may help to dampen demand for the higher-yielding Kiwi.
Anyhow, it doesn’t really matter where the pair goes, as long as the pair picks a direction and volatility picks up so that the Trailing Variant can also show its stuff.
Okay, that’s all I’ve got for today! And I’m still working some stuff out, but I’ll probably have the updated rules to address the two-hour rule (and other issues) up by Monday or Tuesday.
And 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!