New signals have popped up for the SMA Crossover Pullback forex mechanical system in the past few days, and I can’t wait to find out how these positions turn out. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
The moving averages on EUR/USD were oscillating for some time but they eventually made a convincing upward crossover, which was followed by a long stochastic pullback signal.
After hitting its full PT the other week, Cable turned lower and a downward crossover took place. A new short pullback signal was just freshly generated.
Lastly, EUR/JPY also saw a downward crossover after previously hitting its trailing stop on a long position. This was immediately followed by a short signal and a continuous slide, allowing the trailing stop to be activated with nearly 50 pips in the bag.
Here are the latest positions:
Trade Summary:
| SMA Crossover Pullback Positions as of Feb. 8, 2017 | |||||||
|---|---|---|---|---|---|---|---|
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
| EUR/JPY | Short | 121.50 | 123.00 | 118.50 | Open | – | – |
| GBP/USD | Short | 1.2510 | 1.2660 | 1.2210 | Open | – | – |
| EUR/USD | Long | 1.0735 | 1.0585 | 1.1035 | Open | – | – |
No gains locked in so far this week but the EUR/JPY short position is already holding on to 50 pips and counting. I’m excited and nervous at the same time when it comes to the open positions on Cable and EUR/USD since they’re on opposing sides of the dollar, but it does look like country-specific events are in play these days. In case you missed it, check out my Q4 system review and roundup for last year!