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I’m seeing strong trends on Cable and EUR/JPY for the past few days, but was this forex mechanical strategy able to catch any of those moves? 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.

After hitting its full profit target last week, Cable carried on with its stellar climb for a few more days. Unfortunately, since there were no new crossovers, this strategy wasn’t able to take advantage of the sustained bullish momentum and left some pips on the table.

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

EUR/USD was still stuck in Chopsville as the long position left open from the other week barely enjoyed any upside action before the pair tumbled and hit its stop.

A new downward crossover was formed right after and a short stochastic pullback signal followed, but the pair seems to be having second thoughts about selling off.

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

Lastly, EUR/JPY showed stronger upside momentum after making that upward crossover late last week and getting a pullback long signal. Yen pairs continued their climb for the most part of this week, allowing the trailing stop to get activated while price moves within striking distance of its profit target.

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 Sept. 19, 2017
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
EUR/USD Long 1.2020 1.1870 1.2320 Closed -150 -1.00
EUR/USD Short 1.1965 1.2115 1.1665 Open
EUR/JPY Long 131.25 129.75 134.25 Open

With that, the SMA Crossover Pullback strategy ended up with a 150-pip loss or a 1.00% dent on the account, partially erasing some of the gains chalked up in the previous week.

I know the numbers don’t look so good right now, but I’m still feeling pretty good about the strategy’s performance since the trailing stop on EUR/JPY is already locking in pips along the way.

The pair just missed its target by 10 pips on that pop higher, so I’m keeping my robot fingers crossed that it makes another attempt and hits the goal this time. If not, it would have at least 140 pips in the bag with the trail or could lock in a bit more if a new crossover happens before the adjusted SL is reached.

I’m a bit nervous about the EUR/USD position, knowing that the FOMC meeting is coming up this week and could mean spikes in either direction for the pair. Then again, I shouldn’t be worrying about fundamentals since this one’s a mech system, right?

Just a couple of weeks left until the end of Q3 and I’m hoping the system pulls a solid finish for the period. In case you missed it, here’s a review of the system’s Q1 2017 and Q2 2017 performance.