Forex System Update (May 9-13, 2016): SMA Crossover Pullback

A winning trade and a few new signals! It looks like this month is shaping up to be a pretty active one for the SMA Crossover Pullback forex mechanical system. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.

In my update last week, AUD/USD had an open short position that managed to narrowly avoid hitting its trailing stop before eventually hitting its 300-pip profit target. *happy robot dance*

AUD/USD 1-hour Forex Chart

AUD/USD 1-hour Forex Chart

EUR/USD had a long position then but this had to be closed early on a new crossover. Soon after, a pullback took place and generated a short order at 1.1430.

EUR/USD 1-hour Forex Chart

EUR/USD 1-hour Forex Chart

GBP/USD formed a new downward crossover at the end of the other week, before showing a pullback signal towards the end of last week.

GBP/USD 1-hour Forex Chart

GBP/USD 1-hour Forex Chart

Lastly, the short position on EUR/JPY from way back eventually hit its full stop loss right before a new crossover formed. A long pullback signal was generated at 124.00.

EUR/JPY 1-hour Forex Chart

EUR/JPY 1-hour Forex Chart

Here’s a summary of the positions as of May 13, 2016:

SMA Crossover Pullback Positions as of May 13, 2016
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
AUD/USD Short 0.7630 0.7780 .7330 Closed +300 +2.00
EUR/USD Long 1.1495 1.1345 1.1795 Closed -115 -0.76
EUR/JPY Short 122.70 124.20 119.70 Closed -150 -1.00
EUR/USD Short 1.1430 1.1580 1.1130 Open
GBP/USD Short 1.4465 1.4615 1.4165 Open
EUR/JPY Long 124.00 122.50 127.00 Open

The SMA Crossover Pullback system was able to score a 35-pip win or a 0.24% gain on the account for last week, as one big win made up for a couple of losses. Not so impressive but not so bad either! Let’s see what the rest of the month has in store!