Forex System Update: SMA Crossover Pullback (Aug. 15-19, 2016)

Choppy market conditions seem to be back in play, but the SMA Crossover Pullback forex mechanical system still managed to catch a few gains. 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/JPY had a new pullback signal at the end of the week. Price kept treading sideways so this long position was closed on a new crossover for a tiny win. Another pullback signal followed and was also closed on a new crossover.

EUR/JPY 1-hour Forex Chart

EUR/JPY 1-hour Forex Chart

Cable had a short position from the other week and the trailing stop was able to lock in some gains before the pair reversed. A new stochastic pullback signal popped up before the end of the week.

GBP/USD 1-hour Forex Chart

GBP/USD 1-hour Forex Chart

The short position on EUR/USD from the other week was closed early on a new crossover, which was then followed by another pullback signal and a stronger trend.

EUR/USD 1-hour Forex Chart

EUR/USD 1-hour Forex Chart

Lastly, AUD/USD long position from a couple of weeks back was closed on a new crossover, at a slightly better price compared to its 150-pip trailing stop. This crossover was quickly followed by a short pullback signal.

AUD/USD 1-hour Forex Chart

AUD/USD 1-hour Forex Chart

Trade Summary:

SMA Crossover Pullback Positions as of Aug. 19, 2016
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
AUD/USD Long 7540 .7390 .7840 Closed +160 +1.07
EUR/JPY Long 113.00 111.50 116.00 Closed +15 +0.10
EUR/USD Short 1.1165 1.1315 1.0865 Closed +10 +0.07
GBP/USD Short 1.3065 1.3215 1.2765 Closed +50 +0.33
EUR/JPY Short 113.45 114.95 110.45 Closed 0 0
AUD/USD Short .7690 .7840 .7390 Open
EUR/USD Long 1.1160 1.1010 1.1460 Open
GBP/USD Long 1.3060 1.2910 1.3360 Open

All in all, the SMA Crossover Pullback system was able to catch a 235-pip win or a 1.57% gain on the account. Not so bad even with the sideways price action for some pairs, right? There are still a few positions open on what appear to be stronger trends compared to the previous weeks, but I hope I didn’t jinx it. Stay tuned for my next update!