There was only one valid signal in the last few days.
Thankfully, last week’s moves also enabled me to adjust the stops for my open GBP/USD and USD/JPY positions!
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.
A trade is only valid if RSI crosses above or below the 50.00 mark when the signal pops up. And in this version, I’m adding ADX>25 to weed out the fakeouts.
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
The only signal showed up while EUR/USD was trading tightly and it meant that I had to close last week’s position for a 31-pip profit.
Unfortunately, EUR/USD rose just enough for me to limit my losses to 73 pips before the bears dragged the euro to new intraweek lows.
GBP/USD
Like EUR/USD, Cable also saw tight ranges for most of the week.
The HLHB managed to filter out the fakeouts this time!
The lack of volatility also meant that I got to keep last week’s short position and tighten my stops from 103 to 35 pips. Yay!
USD/JPY
The trade remains open but it can now only lose a max of 40 pips instead of the 56 pips that we ended week last week. Not too bad, I think.
Here’s a summary of the open and closed trades from the last couple of days’ worth of trading:
