Woot woot! Scored a couple of big wins for the SMA Crossover Pullback System, with another position locking in gains along the way.
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 for the third week running.
Bullish momentum continued to stay in play, eventually taking the pair up to its profit target at 1.0840 before pulling back. That’s a 2% gain yo!
Cable also had a long position left open from the previous week with the trailing stop activated.
While it did show bullish momentum also and came close to reaching its profit target, the trailing stop was hit on that sharp pullback to the 1.2400 area.
EUR/JPY’s short position from the other week is still open, also with the trailing stop in place.
Price has been moving sideways, though, either suggesting that bulls are trying to regain control or that bears are simply waiting for more backup.
If the trailing stop at 120.80 gets hit, that’s still a guaranteed 75 pips in the bag or a 0.50% gain.
Here are the latest positions:
Trade Summary:
| SMA Crossover Pullback Positions as of Mar. 29, 2017 | |||||||
|---|---|---|---|---|---|---|---|
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
| EUR/USD | Long | 1.0540 | 1..0390 | 1.0840 | Closed | +300 | +2.00 |
| GBP/USD | Long | 1.2360 | 1.2210 | 1.2660 | Closed | +90 | +0.60 |
| EUR/JPY | Short | 121.55 | 123.05 | 118.55 | Open | – | – |
With that, the SMA Crossover Pullback System ended up with a 390-pip win or a 2.60 % gain on the account for the past few days.
That’s three consecutive weeks in the black!Only EUR/JPY is left with an open position at the moment, one that’s got at least 0.50% in gains to add to the mech system’s running total for the first quarter of the year.
I’ll round up the numbers soon so stay tuned!