Partner Center Find a Broker

Greetings, forex fellas! I’m back with another round of updates on the SMA Crossover Pullback mechanical system positions. Wondering what this system is all about? Make sure you check its strategy rules and risk management tweaks first.

As I’ve mentioned in last week’s blog post, a couple of short positions were left open on AUD/USD and GBP/USD.

AUD/USD 1-hour Forex Chart
AUD/USD 1-hour Forex Chart

This pair already had its trailing stop in play once price moved 150 pips in the trade’s favor, with the early exit signal getting hit on the large correction. GBP/USD, on the other hand, didn’t have a trailing stop in place and price came dangerously close to hitting the initial 300-pip stop, but an early exit was made at a much lower price on a new crossover.

GBP/USD 1-hour Forex Chart
GBP/USD 1-hour Forex Chart

As for EUR/USD and EUR/JPY, no new positions have been taken since there weren’t any crossovers or pullbacks from the ongoing downtrend. Too bad the system wasn’t able to make extra profits from these nonstop declines!

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart
EUR/JPY 1-hour Forex Chart
EUR/JPY 1-hour Forex Chart

To sum up, here are the trades and open positions from the SMA Crossover Pullback system last week:

SMA Crossover Pullback Positions as of Nov 6, 2015
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
AUD/USD Short .7290 .7440 .6990 Closed 73 +0.24%
GBP/USD Short 1.5360 1.5510 1.5060 Closed 0 0.00%

All in all, the forex mechanical system ended up with a positive week, even though the gains were considerably smaller compared to the previous ones. I’m also a bit bummed that it wasn’t able to stay in the strong euro trends much longer, as these could have added at least a couple hundred more pips for EUR/USD and EUR/JPY. But hey, a win is still a win, right?

Stay tuned for my next updates!