The SMA Crossover Pullback system managed to avoid losses in the past few days while churning out just one new signal. Keeping my fingers crossed that trailing stops could lock in some gains from here!
Cable had a new downward crossover towards the end of the other week but this failed to generate any short signals since stochastic didn’t climb past the 80.00 level before turning lower.
An upward crossover happened after a few days and this was followed by a stochastic pullback signal to go long. So far so good on this one since the trailing stop is already in place!
EUR/USD already hit its full profit target the other week, and the uptrend has still been going so there have been no crossovers just yet.
Lastly, EUR/JPY still has its previous long position open but price doesn’t seem to be making much headway in the northbound direction for now. I am seeing higher lows, though, so I’m just hoping that the trailing stop also gets activated on this pair soon.
Here are the latest positions:
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
With that, the SMA Crossover Pullback strategy ended up with no wins or losses for the week, pausing after the previous one’s strong performance.I’m keeping a positive outlook since the strategy has been in the black so far this quarter, after one good week made up for the shaky start in July. This isn’t really too surprising since previous quarters have also exhibited how big wins usually make up for those tiny dents. Also, risk management rules like trailing stops and new crossover early exit signals are able to lock in profits or trim losses.
Then again, this robot can’t help but wish that central banks would step on the gas with their policy biases in order to allow trends to gain more traction. I’m looking at you, ECB!
In any case, it looks like dollar weakness stemming from a less upbeat Fed and the political chaos in Washington is contributing to the gains for the majors.