Winner winner, chicken dinner! 🍗 This strategy was able to bag some big wins from its short positions. Take a look!bearish trend is still going, and the gap between the moving averages is widening to suggest that momentum is picking up.
I just can’t help but worry that this latest rally might be more than just a pullback, though!
Cable already had a bearish crossover from the earlier update, and this one was able to generate a fresh short signal almost immediately.Good thing it was able to hop in on that downtrend early on as the sell-off gained a lot of traction… enough to hit its full profit target before the end of the week!
As for EUR/JPY, the pair already had a short position opened a couple of weeks back. After a slightly larger pullback, bears were able to get their legs back and push the currency pair low enough to have its trailing stop activated.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of June 23, 2020
I’m just gonna keep my robot fingers crossed that the remaining short play on EUR/USD doesn’t erase part of these wins and that the risk-free EUR/JPY position still scores a big gain.
So far, I’m pretty happy about this strategy’s comeback this month as it scored FOUR consecutive weekly wins earlier on before taking a bit of a pause last time.
And with just a week left in the quarter, I’m excited to crunch the numbers for Q2, too!