Most pairs I’m watching on this mech system have been moving sideways, but the strategy still managed to catch some pips on quick trades.
EUR/USD had a long position left open from the earlier update, but this didn’t really enjoy much upside momentum after that pop higher.Instead, the position had to be closed early on a new crossover.
Although this meant a losing trade for the pair, it appears that the early exit managed to trim losses.
The bearish crossover was followed by a Stochastic pullback to short, and this one is still open.
GBP/USD also moved sideways for the most part of the week, but it snagged a long position just before another crossover happened.Fortunately this one was able to bag a few pips for Cable, enough to make up for the losses on EUR/USD.
The bearish crossover hasn’t generated a fresh short signal yet since Stochastic has yet to pull up to the overbought zone before turning south.
As for EUR/JPY, the pair topped out on its uptrend (finally!) and saw a bearish crossover late in the week.
This was almost immediately followed by a Stochastic dip from the overbought zone, triggering a valid short play that’s still open.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Mar. 23, 2021
There are a couple of short positions open on the euro pairs, and it looks like Cable is waiting on a bearish play as well.
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!