I hope I’m not about to jinx things when I say that the SMA Crossover Pullback strategy is off to a really good start this year. Check out the latest positions!
EUR/USD had a long position left open before 2017 came to a close, and the trailing stop was already activated as price gained traction on its climb. Bulls continued to push the pair higher in the past few days, just enough to hit its full profit target at 1.2090 before pulling back again. Woot woot!
Cable had a new upward crossover but it took a while before the stochastic pullback signal materialized. A long position is now open and waiting for pound bulls to charge.
So far so good for EUR/JPY, which looks ready to make up for its weak performance for the most part of Q4 2017. The long position is still open with the trailing stop activated, locking in gains along the way.
I held my breath as price pulled back from its latest rally, but it looks like the 200 SMA is holding as dynamic support and might allow the climb to resume.
Anyway, here are the latest positions:
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
With that, the SMA Crossover Pullback strategy made up for last week’s loss with a 300-pip win or a 2.00% gain on the account thanks to EUR/USD’s long position.Can the remaining positions hit their targets soon? The weekly outlook for the major currencies shows that a major catalyst could be in the cards for euro pairs with the ECB minutes lined up while the pound could enjoy more gains as the U.K. government proceeds with its cabinet reshuffle.