Just a few quick updates on the open positions from this mechanical system last time. Check out which pair hit its full target!
EUR/USD had a long position left open for a few weeks already. This gained a bit of upside momentum but not enough to have its trailing stop in place, so I’m a bit worried that this recent slide could spur an early exit soon.
Cable also had a long position from earlier on and this one was able to gain enough bullish momentum to have its trailing stop lock in gains along the way.
Soon enough, the pair climbed all the way up to hit its 300-pip target just before retreating from the rally. Phew!
EUR/JPY also had a long position left open from a few weeks back with its trailing stop in play. Price came close to hitting its target when it reached a high of 127.50 then pulled back.
So far, no early exits have been triggered yet and there still seems to be a chance for more buyers to join in and push for another leg higher at this point. Robot fingers crossed!
Here’s how it all turned out:
Thanks to Cable hitting its full target, the SMA Crossover Pullback System was able to snag 300 pips or 2.00% for the week. The long position on EUR/JPY is a risk-free one since the trailing stop is already locking in some gains, but I can’t help but wish the pair also made it to the full target.