It was another mixed run for this trend-following strategy as it caught a full win but also got one of its positions stopped out. Here’s how it all added up.
EUR/USD had a short position left open in the earlier update, and price gained a bit of downside momentum before moving mostly sideways.The gap between the moving averages started to narrow, hinting at a new crossover, which fortunately occurred slightly lower than entry.
In short, this pair snagged an early exit but was able to bag some pips. Phew!
That locks in a 300-pip or 2% gain on Cable. Ka-ching, ka-ching!
A fresh long position was opened soon after, and this seems to be doing well as price popped sharply higher. The trailing stop is already activated on this one, so I’m not too worried.
Here’s a look at the latest positions:
I know it’s not enough to erase the earlier losses, but I’m just relieved that this forex strategy was finally able to chalk up a positive week this quarter!