Price action was back in Chopsville for the past week, making it challenging for the SMA Crossover Pullback system to score gains. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
In my update last week, EUR/USD had a new crossover on Friday and this was followed by a stochastic pullback signal early on in the week.
Cable already hit its PT on the short position last week and even though a new crossover was seen, no stochastic pullback signals have materialized just yet.
EUR/JPY actually saw pretty strong trends but it looks like the pullback signals were taking place just before those trends reversed!
Lastly, AUD/USD’s long position from the other week is still open with the trailing stop already in place, which means that this pair is already locking in gains along the way.
Here’s a summary of the positions as of July 15, 2016:
|SMA Crossover Pullback Positions as of July 15, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
All in all, the system ended with no pips gained (or lost!) for the week, as the positions closed cancelled each other out. A couple of trades are still open, one on AUD/USD with a few gains locked in and another on EUR/JPY. Keeping my robot fingers crossed that the next week turns out better! Here are some books if you want to get deeper into building systems & algorithms. BabyPips.com receives a small credit from any purchases through the Amazon links above to help support the free content and features of our site…enjoy!