Another round of early exits on new crossovers? You guessed it right! Take a look at how the latest positions on this system fared.
EUR/USD had a bearish crossover in the earlier update, but this has yet to be followed by a valid stochastic short signal.
As you can see from the chart above, the blue line of stochastic hasn’t quite reached the overbought level yet before turning lower, but it looks like the latest pullback should do the trick.
Meanwhile, Cable had a lot going on as its short position was closed for a loss on a new crossover. This was then followed by a valid long signal, but this position didn’t stay open for very long as another new crossover came up. Bah!
Lastly, EUR/JPY had a short position left open in the previous update that gained some bearish traction. However, this wasn’t enough to have the trailing stop activated, so the position is still open even with this big bounce that just happened.
Here’s how the positions are looking:
The short position on EUR/JPY is still open, but I’m not that hopeful about catching a win on this one since a new crossover seems likely to follow. Meanwhile, the possible short signal on EUR/USD might be too late as the downtrend already seems to be bottoming out.
Think this system could catch a break anytime soon?