Thank goodness for trailing stops! See how these early exit signals managed to save the recent positions from ending in the red. Phew!
EUR/USD had a short position from the earlier update and fortunately this pair dipped low enough to have the trailing stop activated. This early exit level was hit as price started pulling up from its dive, locking in a few pips for the week.
Cable also had a short position from the previous update and, just like EUR/USD, this dipped low enough to have the trailing stop in place. This early exit signal was also hit on the pullback from the drop.
Lastly, EUR/JPY still has no new crossovers for the nth week, which means that there haven’t been any new positions opened. It seems that the pair is starting a climb, though, and might see an upward crossover soon.
Anyway, here are the latest positions:
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
This amounts to a 150-pip or 1.00% gain for the system, erasing half of the earlier week’s losses. I will take it!Luckily, the correlated long dollar positions on EUR/USD and GBP/USD both turned out to be winners as the slide did gain some momentum before reversing. By the looks of it, the dollar is weakening across the board and might generate new positions for both pairs soon.