Forex System Update (May 16-20, 2016): SMA Crossover Pullback

You win some, you lose some! I’m seeing strong trends on a couple of pairs I’m watching and choppy price action on others. 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 already hit its 300-pip profit target on a strong downtrend so no new crossovers were made so far.

AUD/USD 1-hour Forex Chart

AUD/USD 1-hour Forex Chart

EUR/USD had a short position open from the other week and this one appears to be on track to hitting its profit target. I hope I didn’t jinx it!

EUR/USD 1-hour Forex Chart

EUR/USD 1-hour Forex Chart

GBP/USD also had a short position open but this one had to be closed when a new crossover formed just before price hit the full 150-pip stop. Soon after, a pullback long signal was generated.

GBP/USD 1-hour Forex Chart

GBP/USD 1-hour Forex Chart

Lastly, EUR/JPY was all over the place as the Japanese yen has been tossing and turning lately. The long position from the previous update had to be closed on a new crossover then a short pullback signal soon followed.

EUR/JPY 1EUR/JPY 1-hour Forex Chart-hour Forex Chart

EUR/JPY 1-hour Forex Chart

Here’s a summary of the positions as of May 20, 2016:

SMA Crossover Pullback Positions as of May 20, 2016
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
EUR/USD Short 1.1430 1.1580 1.1130 Open
GBP/USD Short 1.4465 1.4615 1.4165 Closed -135 -0.90%
EUR/JPY Long 124.00 122.50 127.00 Open -40 -0.27%
GBP/USD Long 1.4665 1.4515 1.4965 Open
EUR/JPY Short 123.90 125.40 120.90 Open

Bahh! Not such a good week for the SMA Crossover Pullback System then! It chalked up a 175-pip loss or a 1.17% dent on the account with the losses on GBP/USD and EUR/JPY. Still, I’m keeping my robot fingers crossed that the open positions and the ongoing trends could make up for this loss later on. Stay tuned for my next updates!

  • EliRaph

    Hi RoboPip,

    I hope you are having a good day.

    Thank you ever so much for all your hard work with the regular weekly updates and sharing this amazing formula with us all.

    I have noticed that you have recently incorporated a trailing stop in your formula.

    Would you be so kind to please provide specifics – how much is your trailing stop? does it kick in once trade moves 150 pip in favour of trade?

    As i have not been able to locate info on your trading rules & risk management adjustments section

    Thanking you in advance and apologies for any inconvenience caused.

    Best Regards,

    EliRaph