Got a bunch of new positions on this mechanical trading system, but early exit signals were quick to pop up. Did it still catch some pips?
EUR/USD did make a bullish crossover after a signal-free week in the previous update, and a long stochastic pullback followed.
However, this position had to be closed the next day when a downward crossover popped up. Fortunately, the early exit still managed to lock in a few gains before a new short signal materialized.
Cable had no crossovers or pullback signals for yet another week, as the would’ve-been bullish crossover didn’t push through.
Lastly, EUR/JPY hit its trailing stop in the previous update, and a new long signal followed. However, this also had to be closed on a new crossover as price moved mostly sideways, and this yielded 10 pips in gains.
To summarize, here are the latest positions:
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
By the looks of it, more declines are in the cards for these pairs I’m watching, and it’s a pity that the indicators didn’t really line up for a new short position on Cable. Oh well, let’s see how it goes from here.
ICYMI, check out this system’s performance for Q1 2018!