A few more gains locked in for EUR/USD, plus a couple of new positions opened. Things are looking up for this forex strategy, and I do hope it stays this way! Here are the latest positions.
EUR/USD had a long position from way back and the pair exhibited enough bullish momentum to have the trailing stop activated. Price pulled back enough to hit this adjusted exit level, locking in gains and leading to a new crossover.
This was followed by a stochastic signal to short, and this position is still open.
Cable just had its trailing stop hit the other week and there have been no new crossovers so far, which means that no positions have been opened either.
Lastly, EUR/JPY followed through on its upward crossover from the previous update and had a long position opened. But so far, it’s not looking good as price is edging close to its stop. Eep!
Here are the latest positions:
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
With that, the SMA Crossover Pullback strategy ended up with a 32-pip win or a 0.21% gain on the account, adding to the set of small gains from the previous week.It’s still not looking so good for EUR/JPY as the pair seems poised to chalk up another big loss by hitting its full stop. Think I should drop this pair from the lineup, like I did with AUD/USD before? Or is it just having a bad month?
Reviewing my currency pair breakdown from way back suggests that EUR/JPY has been able to chalk up strong gains in the past, so I could give it a chance until the end of the year. ICYMI, check out the system’s performance for Q3 2017!