Another week, another set of new crossovers! Was this mechanical system able to bag some pips off these early exits at least?
EUR/USD had a long position left open in the earlier update, but the pair barely made any upside before tumbling back down and seeing a bearish crossover.Unfortunately, this crossover was completed at a price below entry, winding up in a loss for the pair.
Stochastic hasn’t quite reached the overbought region just yet, so no new positions have been opened on EUR/USD so far.
Cable had a bullish crossover from its earlier update that was eventually followed by a stochastic pullback signal to go long.However, price moved mostly sideways and gradually lower, forcing the gap between the moving averages to get narrower.
A bearish crossover looks imminent and the position would likely be closed for a small loss, too. Bah!
As for EUR/JPY, the pair had a long position left open in the previous update and it also had to be closed for a small loss on a new crossover.
A stochastic pullback signal to short soon materialized, and I’m gonna keep my robot fingers crossed that this fares better!
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:
Not such a good start to this quarter, huh?