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.
|SMA Crossover Pullback Positions as of Aug. 19, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
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!