This strategy had a mixed week, as one pair snagged early exits while another is on a risk-free run.
Check out how the latest positions are faring!
EUR/USD had a short position left open from the previous week, and as expected a new crossover led to an early exit.
What I didn’t expect was that this bullish crossover would actually lock in some pips for the pair!
Another valid signal popped up, as Stochastic pulled up from the oversold region.Unfortunately this position did not stay open for very long since another crossover snagged a loss.
GBP/USD had a short position left open from a couple of weeks back, and this enjoyed stronger bearish momentum this time.
This selloff was enough to have the trailing stop activated for Cable, which means that the short position is locking in pips along the way. Woot woot!I’m a bit worried that this ongoing pullback might hit the adjusted stop loss, but I guess I can’t complain since it would catch at least 118 pips.
Meanwhile, EUR/JPY also had a short position left open from a while back, and it went on another leg lower this week.
It’s just too bad that the pair’s selloff didn’t reach 150 pips (I’m talking 2 pips short!) so the trailing stop isn’t in place yet.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Aug. 23, 2021
With that, the SMA Crossover Pullback System is down by 9 pips or 0.06% for the week. Not too bad, I guess?
So far, the short positions on EUR/JPY and GBP/USD are looking good, with the latter already guaranteed to bag a decent win.
In the meantime, check out how this strategy fared in Q2 2021.