This strategy snagged early exits on new crossovers and trailing stops on the open positions. See how it all turned out!
EUR/USD had a bullish crossover in the earlier update that was soon followed by a valid long signal.Unfortunately, the pair didn’t gain any upside momentum as it kept sliding until a new crossover forced an early exit.
This racked up a 65-pip loss for the pair, and the fresh crossover is still waiting for a Stochastic pullback signal to open a short position.
GBP/USD had a long position left open from the earlier update, and the pair managed to gain some upside enough to have the trailing stop lock in pips along the way.Price hit this adjusted stop when sellers took over, catching 19 pips for Cable.
There are no new positions open for this pair for now, as Stochastic has yet to climb to the overbought zone and turn lower to generate a short play.
As for EUR/JPY, its long position was fortunately able to gain some bullish momentum enough to have the trailing stop activated.
However, price soon took a downturn and hit this early exit as well, locking in a measly 3 pips for the pair. But hey, at least it ain’t a loss!
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of September 1, 2020
There are no new positions open, but the fresh crossovers could be followed by valid signals soon. Hopefully those fare much better!
Check out how this system fared in Q2 2020.