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Another loss for EUR/JPY but things are looking great so far for the other two pairs on this forex mechanical system. Check out the latest positions!

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.

EUR/USD had a fresh crossover from the previous week that was soon followed by a stochastic short pullback signal. This one has gained enough bearish momentum to have the trailing stop activated, which means that it’s a risk-free position from here!

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

Cable finally showed a new crossover after its nearly non-stop climb in the past few weeks. However, I’m still waiting on a stochastic pullback signal to catch a short position.

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

And as I suspected, EUR/JPY chalked up another loss as its long position hit the full stop loss when the bullish momentum wasn’t sustained at all.

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

A short position was opened when a new crossover and pullback signal materialized a few days later, but it looks like another crossover is brewing. Argh!

Anyway,, here are the latest positions:

Trade Summary:

SMA Crossover Pullback Positions as of Dec. 13, 2017
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
EUR/JPY Long 133.80 132.30 136.80 Open -150 -1.00
EUR/JPY Short 133.75 135.25 130.75 Open
EUR/USD Short 1.1877 1.2027 1.1577 Open

With that, the SMA Crossover Pullback strategy ended up with a 150-pip loss or a 1.00% dent on the account, erasing a bunch of the small gains in the earlier weeks.

This marks yet another terrible week for EUR/JPY as this pair has been caught in the middle of a consolidation. As some of y’all suggested, I should probably just stick it out with this one because it did have its share of big wins in the past. I hope this choppy sideways price action ends soon, though!

ICYMI, check out the system’s performance for Q3 2017!