I’m back with the latest round of signals from this mechanical system! This time, it looks like EUR/JPY has climbed out of its rut to save the day.
EUR/USD had a short position left open from the previous year but this didn’t really gain downside traction, hitting its stop before an early exit signal even popped up.
A long signal soon followed on a bullish crossover and stochastic pullback from the oversold region, but this didn’t catch a trend either. Fortunately, the new crossover early exit allowed it to catch a few pips.
Cable finally made a new crossover after weeks of being signal-free, but this wasn’t really a good thing. The pair also got caught up in the tossing and turning action, but luckily the trailing stop was activated on the earlier pop higher.
However, some of these gains were returned as price snagged a short signal that was quickly closed on a new crossover.
EUR/JPY had a long position left open from the previous update and, as expected, a new crossover early exit soon followed. What I didn’t expect was the momentum on the short position that took the pair all the way down to its target… and then some!
Here’s how it all turned out:
All in all, the SMA Crossover Pullback System scored 169 pips or a 1.12% gain on the account for the last week of December and the first week of January 2019. Have you checked out how this strategy fared for Q4 2018 yet?