After the other week’s dismal performance, I’m hoping that the SMA Crossover Pullback system can make up for it with these new positions. 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.
EUR/USD previously hit its stop loss when moving averages oscillated and triggered a quick short position the other week. An upward crossover soon followed, and a long pullback signal materialized.
Cable seems to be faring a bit better as its long position is slowly edging higher, enough to have the trailing stop activated.
EUR/JPY had a rough few weeks and doesn’t seem to be making much progress with its latest long position.
So much for making up for its Q4 2017 losses!
Anyway, here are the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.2208 | 1.2058 | 1.2508 | Open | – | – |
| GBP/USD | Long | 1.3762 | 1.3612 | 1.4062 | Open | – | – |
| EUR/JPY | Long | 135.25 | 133.75 | 138.25 | Open | – | – |
No wins yet, but no losses either! The trailing stop is already locking in gains along the way for GBP/USD while price climbs close to its profit target. I hope I didn’t jinx it, though!
If the other open positions fare just as well, the SMA Crossover Pullback strategy could have a shot at erasing the previous 2.50% dent on the account and allow the strategy to end in the black for the month.
Of course I can’t help but worry how the upcoming ECB decision could impact the long euro plays, but I guess I’ll just have to trust the system.ICYMI, check out the system’s performance for Q4 2017 and how my other strategy fared as well!