Forex System Update: SMA Crossover Pullback (June 20-24, 2016)

There was a lot of pip movement during the EU referendum week, but did the SMA Crossover Pullback System catch any of these? 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, EUR/USD had a short position left open but this was closed on a new crossover around the middle of the week. A stochastic signal materialized soon after but price eventually hit the trailing stop just slightly above entry. Phew!

EUR/USD 1-hour Forex Chart

EUR/USD 1-hour Forex Chart

GBP/USD had an upward crossover and a buy signal mid-week, just a day before the EU referendum officially started. Fortunately, the profit target was hit before price dropped like a rock! *happy robot dance*

GBP/USD 1-hour Forex Chart

GBP/USD 1-hour Forex Chart

EUR/JPY, which already had a winning trade in the previous week, had no new crossovers or signals last week.

EUR/JPY 1-hour Forex Chart

EUR/JPY 1-hour Forex Chart

Lastly, AUD/USD had a short position from the previous week but this was closed on a new crossover. Soon after, a long signal materialized but was stopped out at breakeven when the Brexit results were announced.

AUD/USD 1-hour Forex Chart

AUD/USD 1-hour Forex Chart

Here’s a summary of the positions as of June 24, 2016:

SMA Crossover Pullback Positions as of June 24, 2016
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
GBP/USD Long 1.4665 1.4515 1.4965 Closed +300 +2.00
EUR/USD Short 1.1250 1.1400 1.0950 Closed +36 +0.24
AUD/USD Short 0.7425 0.7575 0.7125 Closed -50 -0.33
EUR/USD Long 1.1250 1.1100 1.1550 Closed +30 +0.20
AUD/USD Long .7460 .7310 .7760 Closed 0 0

All in all, the system ended with a 316-pip win or a 2.11% gain on the account with one big win on GBP/USD and a couple of small wins on EUR/USD. No other positions were left open by the end of the week so I guess I’ll have a chance to round up the Q2 performance numbers for this mechanical system in my next update. Stay tuned!


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