Not exactly the best week for the SMA Crossover Pullback strategy as central bank announcements disrupted trends. The current Brexit theme could lead to a rebound before the end of the month, though.
EUR/USD had a sell signal late in the previous week and this one still managed to stay open even with that sharp pop higher around the middle of the month. A few more pips to go and this one would have the trailing stop activated!
Cable had a new downward crossover towards the end of the other week, and it took some time before the stochastic pullback signal generated a short position. Bearish momentum kicked in earlier this week, but it looks like a new crossover could materialize and lead to an early exit.
Lastly, EUR/JPY had a short position left open but this had to be closed early for a small loss when a new crossover formed. Still waiting on a stochastic pullback signal to go long…
Here are the latest positions:
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
There are still two short positions left open on EUR/USD and GBP/USD so I’m keeping my robot fingers crossed that these could chalk up stronger gains in the days ahead. Market factors seem to be moving against these European currencies anyway.
Just a couple more weeks to go until we cap off this quarter! Think this system could finish strong this month and end Q2 better than it did in Q1?