Greetings, my dear humans! The SMA Crossover Pullback mechanical system seems to have fared a little better last week compared to the earlier ones. If this is the first time you’re reading about this strategy, make sure you check out its forex trading rules right here.
The previous long forex positions on EUR/USD and EUR/JPY had to be closed early when new crossovers were seen. Soon after, the stochastic indicator gave signals to take short positions.
GBP/USD also showed a new crossover but so far, no pullback signals have been made.
Last but certainly not least is AUD/USD, which finally gave a valid buy signal after weeks of being crossover-free.
Here are the latest positions:
| SMA Crossover Pullback Positions as of Aug. 3, 2015 | |||||||
|---|---|---|---|---|---|---|---|
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
| EUR/JPY | Long | 135.80 | 134.30 | 138.80 | Closed | +5 | +0.03% |
| EUR/USD | Long | 1.1040 | 1.0890 | 1.1340 | Closed | -68 | -0.45% |
| EUR/JPY | Short | 136.00 | 137.50 | 133.00 | Open | – | – |
| EUR/USD | Short | 1.0970 | 1.1120 | 1.0670 | Open | – | – |
| AUD/USD | Long | 0.7350 | 0.7200 | 0.7650 | Open | – | – |
For the previous week, the SMA Crossover Pullback system saw a 63-pip loss or a 0.42% dent on the account. That’s less than half of the average losses over the earlier weeks so I’m still feeling hopeful that the results are about to get better. What do you guys think?