After a few signal-free weeks, EUR/JPY finally caught a valid play! EUR/USD and GBP/USD snagged early exits, though.
How did the strategy end up overall?
EUR/USD had a long position opened in the earlier update, but the pair hardly gained any bullish momentum.
Because of that, the long play had to be closed early when a bearish moving average crossover took place.
This was almost immediately followed by a Stochastic pullback signal to short, but price didn’t make much headway south either.With that, another position snagged an early exit on a new crossover. Fortunately the losses weren’t too big on these!
GBP/USD had a short position opened a few weeks back, and this gained steady downside momentum in the days that followed.
Price carried on with its selloff throughout the week, enough to dip more than 150 pips lower than entry.That means its trailing stop is activated and locking in pips along the way. Risk-free, baby!
Price eventually bottomed out from its drop and caught a fresh crossover, followed by a valid Stochastic pullback signal to go long.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Dec. 14, 2021
With that, the SMA Crossover Pullback System is ending the week at breakeven, even with all those new positions opened!
That’s another “meh” week for the strategy, but at least it ain’t closing out with a loss. Besides, the short position on Cable is looking promising with the trailing stop already in place.
ICYMI, here’s how this strategy fared in Q3 2021.