Yikes! Some of the positions left open from my earlier update had to be closed early on new crossovers. Did they manage to catch any pips, though?
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 long position at 1.2334 but this barely gained any bullish traction past the 1.2400 handle and soon gave way to sellers. A new crossover exit signal formed as price made a sharp tumble then.
Cable also had a long position that may have been opened a wee bit too late, so it’s actually no surprise for me to see that the trend soon ended and a new crossover formed. Unfortunately, this position wound up with a loss as well.
Lastly, EUR/JPY had its trailing stop in place activated as price crawled higher for the most part of the other week. This ascent continued for yet another week but not enough to hit the target just yet.
To summarize, here are the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.2334 | 1.2184 | 1.2634 | Open | -53 | -0.35 |
| GBP/USD | Long | 1.4245 | 1.4095 | 1.4545 | Open | -110 | -0.73 |
| EUR/JPY | Long | 131.30 | 129.80 | 134.30 | Open | – | – |
This adds to the past couple of weeks’ set of small losses as risk sentiment has been flipping on and off once more. So much for having a good feeling about European currencies last week. I must have jinxed it!
Only EUR/JPY has an open position left and I’m really hoping it hits the target so that it could make up for the recent losses. Then again, the trailing stop is locking in gains along the way, so I’m not all that worried with this one.
ICYMI, check out this system’s performance for Q1 2018!