I’m getting another set of early exits on the latest positions, as sideways price action ensued.
Did this system catch any pips at all?
EUR/USD had a short position open since the start of the month, but this pair had trouble breaking below the 1.1800 support.
A bullish crossover eventually materialized, leading to an early exit for a small gain. Phew!Another bearish crossover followed, but Stochastic has yet to reach the overbought zone and turn lower to generate a fresh sell signal.
GBP/USD had a short play going, but it also couldn’t break below its near-term support level.
Unfortunately for this pair, the new crossover chalked up a loss of 37 pips.
This was followed by a long signal that eventually had to be closed on an early exit for a loss, too. Ouch!
As for EUR/JPY, its short play from way back was already locking in gains thanks to the trailing stop.
It almost snagged an early exit on the pullback, but fortunately it was able to stay in the short position long enough to hit the full PT!
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of July 19, 2021
Thanks mostly to the big win on EUR/JPY, the SMA Crossover Pullback System was able to make up for the back-to-back losses on Cable and close out with a 259-pip gain or 1.72% win.
It looks like a pretty solid start for this month and quarter, but we’ve still got a long way to go before Q3 ends.
In the meantime, check out how this strategy fared in Q2 2021!