Dollar pairs couldn’t seem to make their mind up so the SMA Crossover Pullback system was caught up in these flip-flopping moves. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
In my earlier update, AUD/USD had a short position open that seemed to be going nowhere. The moving averages were close together as price was stuck in a large range and the selloff wasn’t enough to activate the trailing stop. Fortunately the early exit signal on a new crossover still allowed some gains to be locked in.
EUR/USD made an upward crossover that was eventually followed by a stochastic pullback signal after price already made a bit of a bullish run. I hope this wasn’t too late, though!
EUR/JPY also had an upward crossover then the long stochastic pullback signal materialized halfway into the week. Now this one looks more promising since price gapped higher the following Monday.
Cable had a previous short position that was also closed on a new crossover. The pair made a strong rally soon after, but no pullback signals have popped up yet.
|SMA Crossover Pullback Positions as of Nov. 4, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
With that, the SMA Crossover Pullback system ended the week with a tiny 20-pip loss or a -0.13% dent on the account because of the sideways price action. New trends seem to be forming these days, though, so I’m hopeful that the system can stage a solid comeback later on. Do you think the system can follow up its strong performance like it did for Q3? Stay tuned for my next updates!