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Ack! Those bearish moves on the pairs I’m watching for this strategy didn’t really last. But did the early exit signals save the day?

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 short position from the earlier update, but price found support at the 1.2200 mark then staged a strong rally soon after.

As a result, the stop loss was hit before a new crossover even took place. A stochastic pullback signal to go long soon followed, and I’m hoping this fares much better.

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

Cable also had a short position last time I checked and, just like EUR/USD, the pair popped sharply higher mid-week. Fortunately for this one, the trailing stop was already in place and was able to catch a few pips.

A long position was soon opened when stochastic pulled back to the oversold area after the upward crossover.

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

The short position on EUR/JPY also showed enough bearish momentum to have the trailing stop in place. And this early exit signal was hit on a large pullback, even though the downtrend still appears intact. Not complaining, though!

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 Feb. 20, 2018
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
EUR/USD Short 1.2275 1.2425 1.1975 Closed -150 -1.00
GBP/USD Short 1.3960 1.4110 1.3660 Closed +46 +0.30
EUR/JPY Short 133.75 135.25 130.75 Closed +65 +0.43
GBP/USD Long 1.4041 1.3891 1.4341 Open
EUR/USD Long 1.2433 1.2383 1.2733 Open

EUR/USD may have hit its full stop loss, but the other pairs tried to make up for those losses with a couple of wins on their trailing stop exits. Unfortunately, these positions came up short with a 111-pip gain or 0.73% win, leaving the strategy down by 39 pips or 0.37% for the week.

I’m not all that disappointed, though, as I’m actually pleased that EUR/JPY managed to shake off the choppy moves from earlier in the year.

Got another set of short dollar positions opened on Cable and EUR/USD, so I’m hoping that the Greenback resumes its winning streak in the days ahead.

ICYMI, check out the system’s performance for Q4 2017 and how Happy Pip is faring with her brand-new Happy Hunter Trading System.