It was a really good week for this mechanical system as it caught two big wins.
The strategy snagged a small loss on an early exit, but the gains were able to make up for it.
EUR/USD had a bearish crossover in the earlier update, and this was followed by a valid Stochastic pullback signal.Unfortunately the position wasn’t able to stay open for very long before another crossover materialized and triggered an early exit.
This was then followed by another pullback signal, but this long position ain’t lookin’ too good at the moment.
GBP/USD had its long position open for quite some time, and the trailing stop had been locking in pips along the way.The pair went on another leg higher for the past week, allowing it to reach the full profit target and score a 300-pip win. Woot woot!
As for EUR/JPY, it also had a long position locking in pips with a trailing stop for the past couple of weeks.
Just when it seemed ready for a new crossover last week, the 100 SMA kept its lead above the 200 SMA as the uptrend carried on. Thanks to that sharp rally last week, this pair also hit its full target!
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Mar. 2, 2021
Only EUR/USD has a position left open, but this might be in for an early exit again. GBP/USD looks prime for a bearish crossover that would have to wait until the next update.
In case you missed it, I’ve crunched the numbers for Q4 2020 lately, as well as the system’s overall performance for last year. Check it out!