It’s another shaky week for this mech system as it got caught up in a set of early exits on new crossovers. Here’s what happened.
EUR/USD had a bearish crossover from the earlier update, and stochastic finally reached the overbought region then turned lower to generate a sell signal.Unfortunately, the pair didn’t move any further south as it simply traded sideways then popped higher.
A new bullish crossover took place and closed the short position early for a loss. This was followed by another stochastic pullback for a valid long signal that’s still open for now.
This one has yet to generate a stochastic pullback signal to go long, though.
As for EUR/JPY, a short position was left open the other week and it seemed to be going well back then.
Unfortunately, sideways price action followed and a new crossover materialized. A new long position was opened before the end of the week.
Here’s a look at the latest positions: