Early exit rules have been saving the day for the SMA Crossover Pullback forex mech system lately, but I’m still hopeful that these trends on GBP/USD and EUR/JPY would gain traction. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
Since there still haven’t been any new crossovers on EUR/USD, I’m gonna get this one out of the way… again!
Cable had a short position left open from the other week and price actually dipped 10 pips shy of its full 300-pip PT before zooming right back up and hitting the trailing stop. A long signal materialized soon after and the trailing stop is already in place.
Lastly, EUR/JPY’s earlier position also had to be closed early. Fortunately, the new crossover took place right at breakeven so the pair managed to avoid losses on what appears to be a reversal. An upward crossover formed and a stochastic long signal was generated.
Here are the latest positions:
|SMA Crossover Pullback Positions as of Jan. 24, 2017|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
Woohoo, finally a decent weekly gain for the SMA Crossover Pullback system this month! It was able to catch 140 pips or a 0.93% gain on the account so far and I’m keeping my robot fingers crossed that the latest positions can end in the green as well. In case you missed it, check out my Q4 system review and roundup for last year!
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