It’s another round of new crossovers on this strategy, but it managed to bag some pips on a couple of early exits. See for yourself!
EUR/USD had a short position left open from the other week, but this barely gained any bearish traction and had to be closed early on a new crossover.Sadly, this early exit wound up in a loss for the pair.
It took a couple of days before the bullish crossover was followed by a Stochastic signal to go long, but it does seem like this position was opened on a nice pullback.
This was almost immediately followed by a stochastic pullback signal to open a long position.Fortunately, this happened right before the strong pop higher that was enough to have the trailing stop activated.
The pair sold off in the days that followed, eventually hitting the early exit level and bagging a few pips for Cable. Phew!
As for EUR/JPY, the short position left open from a few weeks back was finally able to lock in some gains as its trailing stop was hit on a sharp move higher.
A fresh long position was opened just after the bullish crossover materialized at the end of the week.
Here’s a look at the latest positions:
However, the gains weren’t enough to make up for the losses, resulting in an overall 75-pip or 0.50% dent for the week.
This forex strategy has yet to chalk up a positive week for this quarter. Ugh!