Please find attached the net returns for June 2024.
Many of our strategies look for oversold or prices that have been overbought.
Like previous months currency pairs are either appreciating and not going back to test the price or vice versa.
Any example of this is AUDJPY. In the last 6 months it has gone from 95.800 to 108.180. This is approximately a 13% gain in value. Our strategies would be looking for signs of a decrease in price but the pull backs have been marginal so the bots calculate new highs and lows for this pair. The last time the pair traded this high was in 2007.
Day traders or traders who take very large position would be watching closely to see when a pullback might occur – most likely around large financial news events. But for our bots it does not work this way. Our bots need to wait and see what the new wave looks like for this pair i.e. highs and lows and then trade inside this wave. This takes time build these ranges.
Hope this helps explain why our strategies are finding it more challenging to initiate trades.
Any queries, please do not hesitate to reach out.
