This wasn’t exactly the best of weeks for this mechanical trading system as trends didn’t last long. Did the early exits trim losses?
EUR/USD had a short position left open in the earlier week, but the pair didn’t head much lower from there.Instead, price went straight up to hit the full stop loss before a new crossover could even trim the losses.
A long signal soon followed as Stochastic pulled up from the oversold area, but this position doesn’t seem to be doing well either.
Price has since tumbled but appears to be finding support at the 200 SMA dynamic inflection point.
As for EUR/JPY, its short position fared relatively better than that of the other pairs as price didn’t rally high enough to snag the stop loss. It managed to wait until a new crossover took place, closing the position with a teensy tiny gain.
A long signal came up later on, but it could get closed early on this looming bearish crossover.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of October 20, 2020
In case you missed it, I’ve crunched the numbers for Q3 2020 lately. Check it out!