The HLHB began the week on the unsuitable aspect of intraweek traits.
Luckily, one very lucky USD/JPY sign has the potential to show issues round for this trend-catcher.
Earlier than I present you final week’s numbers, be certain that to learn all about my HLHB Trend Catcher System if that is your first time listening to about it!
Principally, I’m catching traits at any time when the 5 EMA crosses above or under the 10 EMA.
As for stops, I’ll proceed to make use of a 150-pip trailing stop and a revenue goal of 400 pips. This would possibly change sooner or later, however I’ll keep on with this one for now.
Oh, and as talked about earlier than, I’m switching again to applying the HLHB system to the 1-hour time frame. Utilizing 4-hour in Q1 2017 and Q2 2017 wasn’t dangerous, however I feel utilizing this trend-catcher on the 1-hour may yield higher outcomes.
EUR/USD traded in a variety for a lot of the week although it did see new weekly lows across the FOMC’s occasion.
Sadly for the HLHB, it had a protracted commerce left over from the earlier week. This didn’t go properly when EUR/USD dropped to sub-1.1700 ranges.
By the tip of the week, the HLHB had misplaced 114 pips from EUR/USD. And there’s not even a brand new legitimate sign!
Cable began the week on a downtrend that solely misplaced momentum when the pound reached 1.3600 ranges.
Trending value motion is nice. What’s not good is the HLHB nursing a protracted commerce when value is trending in the other way.
There aren’t any new legitimate alerts for GBP/USD this week however I hope we see new ones within the subsequent couple of days!
The HLHB additionally had an open commerce on USD/JPY from the earlier week but it surely seems just like the foreign exchange gods have been extra open to cooperation.
See, USD/JPY yielded two new legitimate alerts for the trend-catcher. What’s extra, they confirmed up fairly close to the beginning of the intraweek traits!
Final week’s sign ended with a 7-pip win whereas Sign #1 closed with a 50-pip revenue.
I’m extra excited how the open commerce seems although. The cease loss is adjusted in order that the commerce can solely lose 7 pips and it seems like USD/JPY nonetheless has bullish momentum on its aspect!
I hope I haven’t jinxed the transfer.
Right here’s a abstract of the open and closed trades from the final couple of days’ price of buying and selling: