Greetings, my dear humans! Here’s an update on the forex signals made by the SMA Crossover Pullback mechanical system on the currency pairs I’m watching. If this is the first time you’re reading about this strategy, make sure you check out its forex trading rules right here.
As I’ve shared in my previous blog update, GBP/USD had a short position open but that had to be closed early at 1.5586 when a new crossover materialized. EUR/USD showed a valid long signal earlier in the week but this also had to be closed early right around its stop loss when a new crossover was seen.
Summing it up, the SMA Crossover Pullback forex mechanical system resulted to a 132-pip loss which is equivalent to -0.88% for the previous week.
| SMA Crossover Pullback Positions as of July 10, 2015 | |||||||
|---|---|---|---|---|---|---|---|
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
| EUR/USD | Long | 1.1000 | 1.0850 | 1.1300 | Closed | -150 | -1 |
| GBP/USD | Short | 1.5604 | 1.5754 | 1.5304 | Closed | 18 | 0.12 |
| GBP/USD | Long | 1.5590 | 1.5440 | 1.5890 | Open | – | – |
| EUR/JPY | Long | 135.77 | 134.27 | 138.77 | Open | – | – |
I guess this isn’t too bad since the other week racked up 6% in gains and a couple of long positions are still open:
Here’s the buy signal on EUR/JPY:
AUD/USD didn’t make any new crossovers last week so there were no signals for the pair.
It’s a pity since AUD/USD is on a strong downtrend so I’m considering adding rules that can still allow the system to enter on trend pullbacks with lower risk, provided that there are no current open positions. What do you think?