New crossovers forced a few positions from the previous update to close with losses.
EUR/USD had a fresh bearish crossover from the earlier update, and this was followed by a valid Stochastic pullback signal to short.Unfortunately, the pair didn’t gain any downside momentum from there and the moving averages went on to make a new crossover.
This meant an early exit on the short position, resulting in a small loss for EUR/USD. The pair is still waiting for Stochastic to reach the oversold region and turn back up to generate a long signal.
GBP/USD had a long position left open from the earlier update, but this also had to be closed on a new crossover. Fortunately, this early exit managed to lock in some gains for the pair!A valid short signal popped up almost immediately after the crossover, but this one didn’t fare so well as a sharp spike higher hit the stop loss.
Soon enough, the moving averages made a new bullish crossover and a valid long signal.
As for EUR/JPY, its short position from the earlier update also got stopped out before the new crossover took place. This was then followed by a long pullback signal, and this position is still open for now.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of September 1, 2020
It still has a couple of positions left open, namely a long play on Cable and EUR/JPY, so I’m gonna keep my robot fingers crossed that these make up for some losses.
Check out how this system fared in Q2 2020!