You win some, you lose some! It’s a mixed bag for this mechanical trading strategy, but some positions are doing pretty well so far. Here’s what I’m talkin’ about!
EUR/USD had a long position left open from the previous update but this had to be closed early on a new crossover. Fortunately, the losses were minimized as price was drifting mostly sideways.
A short position was opened soon after, but I’m not too confident about this as the moving averages are looking tight and ready for another crossover.
Cable also had a long position left open from the earlier update and this one is looking much better as it gained bullish momentum when the Brexit deal was announced.
In fact, this pair already has its trailing stop in place (1.3939 as of this writing) after that spike higher.
Lastly, EUR/JPY also had its long position closed early on a new crossover, but this one chalked up a larger dent. Stochastic has yet to show a pullback signal to open a short position, so I’m just sitting on my robot fingers for now.
Here are the latest positions:
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
Of course that might have to wait until next week, and I’m positive that the pair might even hit its full profit target if momentum keeps up.