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Not the best week for the SMA Crossover Pullback system since dollar and yen pairs were treading carefully before the FOMC and BOJ statements. 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/USD had a long position that went nowhere as price just cruised sideways in a tight range before eventually breaking lower and forming a new downward crossover.

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

As I was fretting about last week, the long order materialized at the top of the climb for Cable as price started continued to move lower at the start of the week. This position was closed on a new crossover then a stochastic pullback short signal was generated soon after.

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

AUD/USD had a new long position opened after the other week’s upward crossover but just like Cable, this happened too late and was closed on a new crossover. A short signal popped up on a pullback before the end of the week.

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

Lastly, EUR/JPY also failed to sustain its dive after forming a downward crossover and short signal from the previous week, causing the position to get closed at breakeven when the moving averages began oscillating.

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

Trade Summary:

SMA Crossover Pullback Positions as of Sept. 16, 2016
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
GBP/USD Short 1.3340 1.3190 1.3640 Closed -90 -0.60
EUR/USD Long 1.1250 1.1100 1.1550 Closed -25 -0.17
EUR/JPY Short 115.15 116.65 112.15 Closed 0 0
AUD/USD Long 0.7520 0.7370 0.7820 Closed -60 -0.40
GBP/USD Short 1.3250 1.3400 1.2950 Open
AUD/USD Short 0.7515 0.7665 0.7215 Open

With that, the SMA Crossover Pullback system ended the week with a 175-pip loss or a 1.17% dent on the account. Range-bound action ahead of the top-tier central bank events for the month didn’t do the system any favors since it prevented strong trends from materializing.

I’m looking forward to tallying the numbers for the latest week and the upcoming ones, though, as the monetary policy statements seem to have set the tone for longer-term currency action. Keeping my robot fingers crossed that these will translate to big wins for this mech system! Here are some books if you want to get deeper into building systems & algorithms. BabyPips.com receives a small credit from any purchases through the Amazon links above to help support the free content and features of our site…enjoy!