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I’ve got three open positions on the pairs I’m watching for this trading strategy, but only one is looking good so far. Take a look!

But if this is the first time you’re reading about the SMA Crossover Pullback system, make sure you look at the trading rules and risk management adjustments first.

Cable had a short position left open from the other week and this one seems to be faring well. In fact, the trailing stop is already activated and locking in pips along the way.

GBP/USD 1-hour Forex Chart
GBP/USD 1-hour Forex Chart

EUR/USD pushed through with its downward crossover after a strong rally, and a stochastic pullback signal soon followed. Price came within striking distance of its stop at the 1.1900 level before resuming the drop and trading back around its entry levels.

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

Lastly, EUR/JPY had a downward crossover after the sharp reversal from its uptrend, but it looks like sellers are having trouble holding on to the upper hand.

EUR/JPY 1-hour Forex Chart
EUR/JPY 1-hour Forex Chart

Here are the latest positions:

Trade Summary:

SMA Crossover Pullback Positions as of Aug. 16, 2017
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
GBP/USD Short 1.3045 1.3195 1.2745 Open
EUR/JPY Short 129.30 130.80 126.30 Open
EUR/USD Short 1.1750 1.1900 1.1450 Open

With that, the SMA Crossover Pullback strategy is taking another pause after scoring a pretty decent win the other week. Cable already has its trailing stop in place for its short position and this should be able to lock in a few good pips based on current prices. EUR/USD could also have a shot at ending in the black, but EUR/JPY isn’t looking promising for now.

August has been a bit shaky for the trading system, just as in July, but I’m not giving up hope that the quarter could pull off with a strong finish. After all, the summer is about to end and liquidity could return to the markets, possibly allowing trends to gain more traction.

In case you missed it, here’s a review of the system’s Q1 2017 and Q2 2017 performance.