This trading system has a fresh batch of open positions but also a set of early exits. Did it score any gains this week at least?
EUR/USD had a valid short signal to start the week, but this didn’t really gain enough bearish traction, so it had to be closed on a new crossover for a loss.
Cable also had a new short signal to start off, but unfortunately it was also closed early on a new crossover. This one was followed by a valid long position, but it looks like range-bound conditions might persist.
EUR/JPY had a good run in the earlier update, but the pair was also victim to sideways price action this time. It had a valid short signal early on that was closed on a new crossover, then a long play was opened soon after.
Here’s how the positions are looking:
Current market conditions aren’t looking too good for this trend-following system, which explains the losses racked up by early exits on new crossovers. Hopefully trending conditions return soon!