Forex System Update: SMA Crossover Pullback (July 11-15, 2016)

Price action was back in Chopsville for the past week, making it challenging for the SMA Crossover Pullback system to score 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/USD had a new crossover on Friday and this was followed by a stochastic pullback signal early on in the week.

EUR/USD 1-hour Forex Chart

EUR/USD 1-hour Forex Chart

Cable already hit its PT on the short position last week and even though a new crossover was seen, no stochastic pullback signals have materialized just yet.

GBP/USD 1-hour Forex Chart

GBP/USD 1-hour Forex Chart

EUR/JPY actually saw pretty strong trends but it looks like the pullback signals were taking place just before those trends reversed!

EUR/JPY 1-hour Forex Chart

EUR/JPY 1-hour Forex Chart

Lastly, AUD/USD’s long position from the other week is still open with the trailing stop already in place, which means that this pair is already locking in gains along the way.

AUD/USD 1-hour Forex Chart

AUD/USD 1-hour Forex Chart

Here’s a summary of the positions as of July 15, 2016:

SMA Crossover Pullback Positions as of July 15, 2016
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
AUD/USD Long .7425 .7275 0.7775 Open
EUR/USD Short 1.1100 1.1250 1.0800 Closed -10 -0.07
EUR/JPY Short 116.00 117.50 113.00 Closed +10 +0.07
EUR/JPY Long 117.25 115.75 120.25 Open

All in all, the system ended with no pips gained (or lost!) for the week, as the positions closed cancelled each other out. A couple of trades are still open, one on AUD/USD with a few gains locked in and another on EUR/JPY. Keeping my robot fingers crossed that the next week turns out better!


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