Forex System Update: SMA Crossover Pullback (August 24-28, 2015)

Greetings, my dear humans! Got some hits and misses from the SMA Crossover Pullback forex mechanical system last week. If this is the first time you’re reading about this strategy, make sure you check out its forex trading rules right here.

The previous long positions on EUR/USD and GBP/USD were already closed, with the former hitting the profit target (Yay!) and the latter just missing the mark (Boo!) and getting an early exit from a new crossover.

EUR/USD 1-hour Forex Chart

EUR/USD 1-hour Forex Chart

As you can see from the chart below, Cable came within 50 pips shy of its 300-pip PT but sold off right after and showed a downward SMA crossover.

GBP/USD 1-hour Forex Chart

GBP/USD 1-hour Forex Chart

As for EUR/JPY, the pair was still in Chopsville, triggering a bunch of mixed signals. I definitely need to come up with a way to filter these out!

EUR/JPY 1-hour Forex Chart

EUR/JPY 1-hour Forex Chart

Lastly, AUD/USD got a short signal later on in the week. A bit late to the game, but it’s looking good so far. I hope I didn’t jinx it!

AUD/USD 1-hour Forex Chart

AUD/USD 1-hour Forex Chart

Here are the latest positions:

SMA Crossover Pullback Positions as of Aug. 24, 2015
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
EUR/USD Long 1.1120 1.0970 1.1420 Closed +300  +2.00
GBP/USD Long 1.5580 1.5430 1.5880 Closed  -150 -1.00
EUR/JPY Short 138.70 140.20 135.70 Closed +55 +0.37
EUR/JPY Long 137.10 135.60 140.10 Closed  -110  -0.73
EUR/JPY Short 136.35 137.85 133.85 Open
AUD/USD Short .7180 .7330 .6880 Open  –
GBP/USD Short 1.5430 1.5580 1.5130 Open  –

All in all, the mechanical system churned out 95 pips in gains for a +0.64% profit. Not bad, eh? At least it was able to put an end to the consecutive declines in the previous weeks! In fact, the current positions are looking hella good but I’ll save these updates for my next blog entry. Stay tuned!