The sharp dollar rally caused some positions to get closed early, but at least some gains were locked in. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
In my update last week, Cable had a new long position open before price carried on with its climb and activated the trailing stop. This stop was hit just before the end of the week.
EUR/USD also had a long position opened towards the end of the other week and price also showed some bullish momentum before the reversal caused a new crossover to materialize. Fortunately, the trade was also closed for a profit.
AUD/USD had a short position open from the previous week and this one is able to take advantage of the dollar rallies, with the trailing stop already in place in locking in gains along the way.
Lastly, EUR/JPY had a new crossover but there have been no stochastic pullback signals.
|SMA Crossover Pullback Positions as of Aug. 26, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
All in all, the SMA Crossover Pullback system was able to catch a 184-pip win or a 1.23% gain on the account. Thank goodness for those system rules that allowed it to keep some gains even with sharp reversals!
With the markets set to turn up the volatility in the coming months, I’m looking forward to seeing larger moves and prolonged trends that could yield more wins for this strategy. Stay tuned for my next updates!
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