It looks like the trends are resuming on the pairs I’m watching again, which could mean more winning signals for the SMA Crossover Pullback system from here. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
EUR/USD got stopped out on its short position the other week, but this seemed to be a large pullback from the ongoing trend. A new crossover formed, followed by a stochastic pullback signal for a long position. So far so good for this one, as the trailing stop is already activated!
GBP/USD had a short position from my earlier update but this one was closed early on a new crossover. Another pullback signal materialized, generating a long position for Cable as well
Lastly, EUR/JPY hasn’t generated any new signals just yet since the moving averages appear to be oscillating for now.
Here are the latest positions:
Trade Summary:
| SMA Crossover Pullback Positions as of May 24, 2017 | |||||||
|---|---|---|---|---|---|---|---|
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
| GBP/USD | Short | 1.2900 | 1.3050 | 1.2600 | Closed | -30 | -0.20 |
| EUR/USD | Long | 1.1105 | 1.0955 | 1.1405 | Open | – | – |
| GBP/USD | Long | 1.3000 | 1.2850 | 1.3300 | Open | – | – |
With that, the system is down 30 pips or 0.20% on the account but I’m hopeful that the new long positions could make up for the back-to-back weekly losses. After all, the trailing stop is already in place for EUR/USD so it’s essentially a risk-free trade. And even though I’m a bit bummed out about the Cable loss, at least the new crossover early exit signal was able to minimize the damage.