This mechanical trading strategy had a bunch of new signals opened recently, but did these positions make up for a dismal run earlier on? Or did it dig a deeper hole?
EUR/USD was stopped out in its short position the other week, before a bullish crossover took place and generated a valid long signal later on.
Unfortunately, euro bulls barely gained an upside traction before bears took over once more, leading to an early exit on a new crossover for a small loss.
Cable had a short position left open from the earlier update and this one had the trailing stop locking in gains along the way. Price started pulling up from its sharp dive in the days that followed, though, so the early exit was also triggered.
EUR/JPY also had a short position left open but price action chopped this way and that, leading to a new crossover early exit.
The moving averages were oscillating, so another bearish crossover quickly followed, generating yet another short signal that might be closed early… again!
Here are the latest positions:
This isn’t the
droid comeback I’m looking for, but I’m still relieved that the mech system managed to avoid a loss this time. Even though I’m a bit worried about the sideways price action, especially on EUR/JPY, I’ll keep my robot fingers crossed that trending conditions return so the strategy could get out of this funk.