Forex System Update: SMA Crossover Pullback (Nov. 23-27, 2015)

Still no new signals on the euro pairs from this forex mechanical system, but we’ve got a new one on GBP/USD and it’s locking in some gains on AUD/USD! In case you’re wondering what kind of strategy I’m referring to, make sure you read the SMA Crossover Pullback rules right here and its risk management tweaks.

As I’ve shared in my blog update last week, the system had a long position on both AUD/USD and GBP/USD. For the former, the stop loss is currently being trailed just above the entry point (1.7135 as of the latest swing high), which means that a few pips are already in the bag.

AUD/USD 1-hour Forex Chart

AUD/USD 1-hour Forex Chart

As for GBP/USD, the trailing stop at entry got hit on a large pullback just before a new crossover was seen. With that, the long position was closed at breakeven and a short signal followed.

GBP/USD 1-hour Forex Chart

GBP/USD 1-hour Forex Chart

And, nope, still no signals on EUR/USD and EUR/JPY… but I suspect we’ll get a few soon.

EUR/USD 1-hour Forex Chart

EUR/USD 1-hour Forex Chart

EUR/JPY 1-hour Forex Chart

EUR/JPY 1-hour Forex Chart

Anyway, here are the positions for the SMA Crossover Pullback mechanical system last week:

SMA Crossover Pullback Positions as of Nov. 27, 2015
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
AUD/USD Long .7100 .6950 .7400 Open
GBP/USD Long 1.5180 1.5030 1.5480 Closed 0 0
GBP/USD Short 1.5100 1.5250 1.4800 Open

No actual profits from this forex system last week, folks! But hey, at least we didn’t get a net loss, right? Besides, that long position on AUD/USD is still looking pretty good and I’m keeping my robot fingers and toes crossed that the GBP/USD short will turn out well. Oh, and I’m hoping we’ll see some action on EUR/JPY and EUR/USD, too. Stay tuned for my next updates!