A scarcity of trending motion from the majors opened the HLHB to tons of fakeouts.
Fortunately, two massive wins stored this trend-catcher within the inexperienced.
Earlier than I present you final week’s numbers, be sure to learn all about my HLHB Trend Catcher System if that is your first time listening to about it!
Principally, I’m catching tendencies each time 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 follow 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 believe utilizing this trend-catcher on the 1-hour may yield higher outcomes.
EUR/USD traded in a decent vary nevertheless it did see a pointy bearish candlestick on Tuesday.
The sharp downswing, together with two new fakeouts, led to a internet lack of 36 pips from EUR/USD for the week.
The HLHB has an open lengthy commerce on EUR/USD to begin the week. I hope we see some euro power so the HLHB can achieve some pips!
A legitimate sign close to the beginning of the week meant that I needed to shut an open commerce for a 130-pip revenue.
I can’t have a good time a lot, although, as a result of the brand new sign turned out to be a fakeout that was taken out as quickly as GBP/USD dropped sharply on Tuesday. The HLHB misplaced 99 pips on that commerce!
Like EUR/USD and GBP/USD, USD/JPY additionally traded in a decent vary for a lot of the week.
The HLHB additionally validated a sign close to the tip of the week, which implies that I needed to shut an open commerce for a 209-pip win. The brand new commerce can now solely lose a max of 120 pips.
Right here’s a abstract of the open and closed trades from the final couple of days’ value of buying and selling: