Thank goodness for those trailing stops! The SMA Crossover Pullback mechanical system was able to lock in some gains before reversals took place. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
EUR/USD had a long position left open with the trailing stop activated. After a brief pullback, price resumed its climb and is now closing in on the profit target at 1.0840. I sure hope it goes all the way instead of retreating from here!
Cable had a short position going, also with the trailing stop in place, but price found support around the 1.2100 area then bounced back up to form a new crossover. The trail was hit before this happened and a stochastic pullback signal followed.
EUR/JPY’s long position from a couple of weeks back also hit its trailing stop before a new crossover formed and a stochastic short signal was generated.
Here are the latest positions:
|SMA Crossover Pullback Positions as of Mar. 22, 2017|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
With that, the SMA Crossover Pullback System ended up with a 160-pip win or a 1.06% gain on the account for the past few days. That’s back-to-back gains yo! All the pairs I’m watching have open positions at the moment, with the trailing stop in place for EUR/USD to lock in some gains even if the pair doesn’t make it all the way up to its target.
Just a couple of weeks left in the month and we’re closing out the first quarter of 2017! Time flies when you’re catching pips, huh? Think this mech system can top its Q4 performance?