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 (%)|
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!