Stronger trends seem to be forming on the pairs I’m watching for the SMA Crossover Pullback forex mechanical system, and so far things are looking up for the open positions. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
In my update last week, EUR/JPY already hit its 300-pip profit target before a new crossover took place, followed by a stochastic pullback signal.
Cable hit its trailing stop the other week but is off to a fresh start with a new short position. Price has been on a steady slide so far, with the trailing stop already in place.
The long position on EUR/USD was closed early on a new crossover for a tiny loss, followed by a stochastic pullback signal. However, this position would soon get stopped out on yet another new crossover the following week.
Lastly, AUD/USD’s long position is still open and doing quite well, with the trailing stop in place and already locking in gains along the way.
|SMA Crossover Pullback Positions as of Aug. 12, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
With that, the SMA Crossover Pullback system ended up with a 40-pip loss or a 0.27% dent on the account for the week, but there are still a few open positions. A couple of these have trailing stops in place and would be yielding gains even if these stops get triggered so I’m looking forward to coming up with the next update. Stay tuned!