Greetings, fellow Happy Hunters! A new trading week will soon begin, so it’s 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 how the system fared during the previous weeks, you can do that by click on the relevant link below.
- Week In Review At The Happy Hunter’s Lodge (Apr. 2-6)
- Week In Review At The Happy Hunter’s Lodge (Apr. 9-13)
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 up on 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 had a very small 0.06% gain while the Trailing Variant had a more painful 1.16% loss.
Trading conditions were not very favorable this past week since GBP/NZD basically traded sideways while tilting to the downside. And if you took a look at the charts earlier, you may have also noticed that intraday price action was very choppy.
Incidentally, both Variants were actually in positive territory on Thursday, despite the unfavorable trading conditions.
Unfortunately, Friday’s came and the very choppy intraday price action resulted in a string of losses that caused the Fixed TP Variant to suffer a 1.70% loss on the day. The Trailing Variant, meanwhile, suffered a 1.91% loss. And that terrible day essentially wiped out the Fixed TP Variant’s gains and pushed the Trailing Variant into negative territory.
Overall, a rather disappointing week. But on a more upbeat note, the new trading rules are doing their job since both Variants would have fared worse under the old rules, as you can see below.
I don’t know about you, but I think a measly 0.06% gain for the week is way better than a 0.60% loss. Also I’d take a 1.16% loss over a 1.94% any day. Although a win is certainly more desirable.
Looking forward, it’s very likely that we’ll continue to experience unfavorable trading conditions since GBP/NZD has yet to move higher past 1.9630 or fall below 1.9170.
And while the pair did mover higher past the area of interest at 1.9410 that I marked last week, selling pressure is clearly ever present since the pair failed to reach 1.9630. And from a fundies-based perspective, that was due to disappointing U.K. data and cautious rhetoric from BOE’s Carney.
Bulls do seem to be fighting back, though. And bulls seem to be entrenching themselves at 1.9410, so I still lean more towards further moves to the upside.
Hopefully, GBP/NZD will finally pick a direction and volatility picks up so that we’ll see strong intraday trends again.
Okay, that’s all I’ve got for today! 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!