This mech system caught fresh positions all right, but it seems to have been caught up in large pullbacks instead of reversals. Just how bad was the damage?
EUR/USD snagged a new crossover, followed by a stochastic pullback to go long. However, bears quickly returned to spur a selloff all the way down to the full stop loss before another crossover happened.
Cable had a bullish crossover in the earlier update but it took a while before a stochastic pullback signal was generated. This seemed to be too little too late, though, as bearish momentum set in and eventually hit the stop on the gap down.
EUR/JPY followed through on its crossover from the other week to generate a long pullback signal. But just like the other two pairs, this also happened right before bears regained the upper hand, taking price down to the stop as well.
Here are the latest positions:
I’m seeing potential bearish crossovers once more, and it looks like the longer-term downtrend is due to resume. Hopefully the next batch of trades make up for this loss!