It was a wild ride for this mechanical trading system in the past week as volatility picked up and hit the exit levels on some positions. Check ’em out!
EUR/USD had a short position from the previous update, and this one had to be closed on a new crossover. Fortunately it was able to catch a small gain on the early exit. Phew!A long signal soon popped up, and the strong rally that followed allowed the pair to hit the full target.
Cable had a long position from the earlier update that also had to be closed on a new crossover. A short position came up next, and this one is still open.
As for EUR/JPY, its short position from earlier on hit its full stop loss when the pair surged higher. A long position was opened later on, but this also got stopped out. Ouch!
The pair still has a short position open for now, and I’m hoping it fares much better than the previous two plays.
Here’s a look at the latest positions:
The full losses on EUR/JPY and the relatively large hit on GBP/USD erased the gains from the profitable long EUR/USD position. Too bad!