Trends didn’t last very long recently, causing the open positions on this strategy to get closed out. Did early exits manage to save the day?
EUR/USD had a short position opened, and this one didn’t really gain much bearish traction.Instead, the pair went the opposite direction and zoomed right up to the stop loss before a new crossover even occurred. Ouch!
So far, Stochastic hasn’t pulled out of the oversold region to generate a valid long signal yet.
GBP/USD also had a short position left open in the earlier update that seemed to have avoided getting stopped out on a sharp bounce.Unfortunately the climb soon resumed and the pair also hit its stop before a new crossover could trim the losses.
Cable is still waiting on a Stochastic pullback from the oversold region to catch a bullish position after the latest crossover.
As for EUR/JPY, its earlier short position was able to gain a bit of bearish traction before price eventually bottomed out.
Fortunately a new crossover was able to keep the losses at a minimum before price surged sharply higher.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Nov. 11, 2020
In case you missed it, I’ve crunched the numbers for Q3 2020 lately. Check it out!