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It’s time to review the first few trades of the SMA Crossover Pullback forex mechanical system… and they’re not looking too good. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first. Oh, and I’ve got the compiled results for Q1 2016, too!

The system seems to be off to a bumpy start since we’ve seen a lot of rallies and reversals in the past few days. EUR/JPY had a long position open and this one’s still going but is currently in the red.

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

AUD/USD also had a new crossover and a long pullback signal. So far, it’s been moving sideways so I guess I’ll have to wait and see how this turns out.

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

GBP/USD also had a long signal but this one quickly got stopped out when the pair sold off last Friday.

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

Lastly, EUR/USD had a long position opened and this one’s not looking too bad. I hope I didn’t jinx it, though!

EUR/USD 1-hour Forex ChartEUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart
SMA Crossover Pullback Positions as of Apr. 3, 2016
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
GBP/USD Long 1.4350 1.4200 1.4650 Closed -150 -1.00
EUR/JPY Long 127.10 125.60 130.10 Open
AUD/USD Long .7650 .7500 .7950 Open
EUR/USD Long 1.1325 1.1175 1.1625 Open

So for the latter half of last week, the SMA Crossover Pullback forex mechanical system incurred a 150-pip dent or a 1% loss on the account. Price action has been extra jittery these days and that’s not working out too well for this trend-following strategy, but I’m hoping the choppiness will fade soon. ‘Til my next update!