Trends seem to be picking up on this mech system, allowing the latest set of positions to stay open for longer.
Did it bag any pips this time?
EUR/USD had a short position opened a few weeks back, and this one is still going!
After some consolidation early in the week, this pair went on another leg lower and is coming close to having the trailing stop activated.
GBP/USD also had a short position left open, but there was some rangebound action so a new crossover led to an early exit.Fortunately this took place at a slightly lower price than entry, so Cable caught some gains!
Another short signal followed, and hopefully this stays in the downtrend for much longer.
This was then followed by a Stochastic pullback signal to short this time. So far, it looks like bearish momentum is slowly picking up.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of June 15, 2021
The SMA Crossover Pullback System ended up with a meager 12-pip or 0.08% gain, thanks to the early exit on GBP/USD.I know it ain’t much and that it barely makes up for last week’s dent, but I’ll take what this strategy can give even with choppy market moves here and there.
All three pairs I’m watching have short positions open, and it does seem like bearish momentum is taking hold.
I’d be able to rest easy once some trailing stops are activated, but for now I’m gonna keep my robot fingers crossed that they don’t turn out to be all losses!
In case you missed it, I’ve crunched the numbers for Q1 2021 lately. Check it out!