Market conditions were still choppier than usual but the SMA Crossover Pullback managed to squeeze out some pips in the past few days.
EUR/USD had a new crossover at the end of the other week and this was followed by a stochastic pullback signal to short. However, this position had to be closed early on yet another crossover for a few pips. A new long pullback signal was generated and this position is still open.
Cable had a short position left open from the previous week, but it turned out that this was generated at the bottom of the selloff so it had to be closed early when an upward crossover happened.
Lastly, EUR/JPY had a short position opened at the start of the month and this actually made a lot of bearish moves this week. Unfortunately, a new crossover materialized earlier on so it had to be closed early as well.
Here are the latest positions:
|SMA Crossover Pullback Positions as of June 7, 2017|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
This type of price action has been going on for most of May and it looks like it might carry on ’til June as the summer doldrums kick in. However, I’m still keeping my robot fingers crossed that trends clear up in the coming days as bigger market themes are coming into play.
I’m also feeling reassured that the new crossover rules are helping trim the losses during these types of market moods, and I’m inclined to trust the current system rules instead of introducing more restrictions to filter out choppy signals.
Think this system could finish strong in June and end the quarter as better than it did in Q1?