Choppy market conditions seem to be back in play, but the SMA Crossover Pullback forex mechanical system still managed to catch a few gains. 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 had a new pullback signal at the end of the week. Price kept treading sideways so this long position was closed on a new crossover for a tiny win. Another pullback signal followed and was also closed on a new crossover.
Cable had a short position from the other week and the trailing stop was able to lock in some gains before the pair reversed. A new stochastic pullback signal popped up before the end of the week.
The short position on EUR/USD from the other week was closed early on a new crossover, which was then followed by another pullback signal and a stronger trend.
Lastly, AUD/USD long position from a couple of weeks back was closed on a new crossover, at a slightly better price compared to its 150-pip trailing stop. This crossover was quickly followed by a short pullback signal.
Trade Summary:
| SMA Crossover Pullback Positions as of Aug. 19, 2016 | |||||||
|---|---|---|---|---|---|---|---|
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
| AUD/USD | Long | 7540 | .7390 | .7840 | Closed | +160 | +1.07 |
| EUR/JPY | Long | 113.00 | 111.50 | 116.00 | Closed | +15 | +0.10 |
| EUR/USD | Short | 1.1165 | 1.1315 | 1.0865 | Closed | +10 | +0.07 |
| GBP/USD | Short | 1.3065 | 1.3215 | 1.2765 | Closed | +50 | +0.33 |
| EUR/JPY | Short | 113.45 | 114.95 | 110.45 | Closed | 0 | 0 |
| AUD/USD | Short | .7690 | .7840 | .7390 | Open | – | – |
| EUR/USD | Long | 1.1160 | 1.1010 | 1.1460 | Open | – | – |
| GBP/USD | Long | 1.3060 | 1.2910 | 1.3360 | Open | – | – |
All in all, the SMA Crossover Pullback system was able to catch a 235-pip win or a 1.57% gain on the account. Not so bad even with the sideways price action for some pairs, right? There are still a few positions open on what appear to be stronger trends compared to the previous weeks, but I hope I didn’t jinx it. Stay tuned for my next update!