Greetings, forex earthlings! It looks like we’re seeing a lot of action these days, which means more signals from the SMA Crossover Pullback system. If this is the first time you’re hearing about this mechanical system, better take a look at the trading rules and risk management adjustments first.
As I’ve shared in my previous blog update, there were a couple of positions left open on AUD/USD and GBP/USD. The former is still open, with a 150-pip trailing stop still in play.
As for GBP/USD, the trailing stop got hit on a pullback to the 1.5050 area, still allowing the short position to be closed at a tiny profit.
And now we’re seeing some crossovers and new signals on the euro pairs! Thank you, post-ECB announcement profit-taking!
The long signals were a bit late, as the upward crossovers took place after that sharp EUR bounce then the stochastic pullback occurred a few bars later.
I’m keeping my robot fingers crossed that there’s still some bullish momentum left for both EUR/USD and EUR/JPY, but for now here are the latest positions for the SMA Crossover Pullback forex system:
| SMA Crossover Pullback Positions as of Dec. 4, 2015 | |||||||
|---|---|---|---|---|---|---|---|
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
| AUD/USD | Long | .7100 | .6950 | .7400 | Open | – | – |
| GBP/USD | Short | 1.5100 | 1.5250 | 1.4800 | Closed | 50 | +0.33 |
| EUR/USD | Long | 1.0.880 | 1.0730 | 1.1180 | Open | – | – |
| EUR/JPY | Long | 133.50 | 132.00 | 136.50 | Open | – | – |
So the system was able to chalk up a 50-pip gain or a 0.33% profit for the week, which ain’t too bad! The AUD/USD long position is also locking in some gains and I’m hoping that the euro positions turn out well. ‘Til my next update!