This mechanical trading system managed to avoid another set of early exits this time, but did it catch any pips? Or new positions at least?
EUR/USD had a short position left open from way back, and this didn’t really gain much downside traction in the past weeks. Price popped higher recently, and it looks like a new crossover may be in order.
Cable had a new crossover in the earlier update, and this was followed by a long signal. So far so good on this one since it’s already climbed high enough to have the trailing stop activated. Phew!
EUR/JPY still has its short position from the start of the month open, and bearish pressure picked up somewhat. The trailing stop hasn’t been activated yet, though, and I’m a bit worried that a new crossover might be brewing.
Here’s how the positions are looking:
It’s not looking so good for EUR/USD as the pair might be in for another early exit while EUR/JPY might be able to scrape by with a few pips.
Cable is faring much better since the trailing stop is in play and locking in pips as it goes. Just gotta wait and see!