Yikes! This strategy snagged another set of early exits on new crossovers, as trends couldn’t seem to pick up.
Read on to see how the positions turned out.
EUR/USD had a short position left open from the earlier update, but this signal popped up at the bottom of the selloff.
Because of that, the short position had to be closed early when a bullish crossover materialized.Fortunately, EUR/USD managed to lock in a few pips on this early exit. Phew!
This was then followed by a Stochastic pullback signal to go long, and this position is still open for now.
A valid long signal soon followed, and it looks like this might be picking up on a much stronger trend this time.As for EUR/JPY, it had a bullish crossover in the earlier update and was just able to catch a long position this week.
Price seems to be moving sideways, though, and it looks like the moving averages might be bracing for a fresh crossover soon.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Aug. 3, 2021
With that, the SMA Crossover Pullback System is closing out the week with a 32-pip or 0.21% loss.
All three pairs have long positions left open, so I’m gonna keep my robot fingers crossed that bullish momentum stays in their favor!
In the meantime, check out how this strategy fared in Q2 2021.