After sustaining heavy losses last week, the HLHB was able to cap this week in the green.
Check out the trades that yielded pips!
Before I show you last week’s numbers, make sure to 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/USD started the week with a lowkey upswing but eventually traded inside a wide range until Friday when the pair popped higher and ended the week near its intraweek highs.
The HLHB ended up validating a short signal when EUR/USD was busy trading inside a range. Luckily, the euro hasn’t moved high enough to trigger adjusted stops.
For now, the closing of last week’s long position resulted in a 35-pip gain for this trend-catcher.
GBP/USD also traded in an upswing at the start of the week but, unlike in EUR/USD, the HLHB didn’t validate any of the crossovers from the pair.
Notice that there also wasn’t any open trade from the previous week. This means that the HLHB is starting next week without any bias on GBP/USD’s price action!
USD/JPY mostly traded in a wide range for most of the week.
That didn’t stop the HLHB from sneaking in pips, however. A validated crossover meant that I had to close last week’s short position for a 4-pip gain.
Fortunately, the new valid trade was a long position that popped up near USD/JPY’s intraweek lows. Let’s see if USD/JPY can maintain its (very) slow and steady uptrend!
Here’s a summary of the open and closed trades from the last couple of days’ worth of trading: