It’s another round of early exits on this mech system!
Did the strategy catch any wins and fresh signals?
EUR/USD had a bearish crossover from the earlier update, and this was followed by a Stochastic pullback signal to short.
Unfortunately this short play didn’t stay open for very long, as a new crossover popped up a couple of days later.This early exit managed to minimize the loss for EUR/USD, though, as the pair kept cruising higher.
GBP/USD had a short position going from a couple of weeks back, and this already had its trailing stop locking in pips along the way.
This early exit was hit, bagging 115 pips on the position when price pulled back.This was followed by a bullish crossover and a Stochastic pullback signal to go long.
Meanwhile, EUR/JPY didn’t see further downside action on its short play, so the position had to be closed early when a bullish crossover took place.
Fortunately this happened way below the entry price, so the pair was able to catch some pips!
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Aug. 31, 2021
With that, the SMA Crossover Pullback System is up by 152 pips or 1.02% for the week, even with the early exits!
So far, only Cable has a long position left open, but it looks like the euro pairs are just waiting on Stochastic pullback signals.
In the meantime, check out how this strategy fared in Q2 2021.