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The SMA Crossover Pullback System seems to be off to a slow start this year but it did catch one entry signal and might see a few more in the coming days. Oh, and as I noted in the mech system’s breakdown per currency pair review, I’ll be ditching AUD/USD for the time being while I figure out adjustments to its stops and targets.

If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.

Cable made a new upward crossover midweek but is still waiting for a stochastic pullback signal before a long position is opened.

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

Meanwhile, EUR/USD hasn’t made any new crossovers yet so far this year, although its previous one late last year had to be closed at breakeven due to its trailing stop anyway.

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

Lastly, EUR/JPY’s moving averages have been oscillating but it was able to hop in a pullback to 122.50 around the middle of the week.

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

Trade Summary:

SMA Crossover Pullback Positions as of Jan. 6, 2017
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
EUR/JPY Long 122.50 121.00 124.00 Open

I know, I know… Not exactly the jumpstart for 2017 that I expected! Still, I’m feeling confident that the SMA Crossover Pullback mech system can pull off another impressive year, given how it did so well in 2016. In case you missed it, check out my Q4 system review and roundup for the year! 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!