It looks like range-bound conditions are returning for the pairs I’m watching on this strategy, but thank goodness for early exit signals.
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 left open in the previous update and, just when it seemed ready to hit the full stop loss, a new crossover formed and allowed the strategy to exit at a much better price.
A long pullback signal soon followed, but this also had to be closed for a small loss on yet another new crossover.
Cable hit its full profit target in the previous update, and a bullish crossover was followed by a stochastic pullback signal to go long.
As with EUR/USD, this also had to be cut quick when a fresh bearish crossover happened. This was then followed by a stochastic signal to open a short position.
As for EUR/JPY, the pair opened a long position and has gained enough bullish momentum to have the trailing stop activated.
To summarize, here are the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1590 | 1.1740 | 1.1290 | Closed | -82 | -0.54 |
| GBP/USD | Long | 1.3086 | 1.2936 | 1.3386 | Closed | -13 | -0.08 |
| EUR/USD | Long | 1.1670 | 1.1520 | 1.1970 | Closed | -28 | -0.19 |
| GBP/USD | Short | 1.1386 | 1.3336 | 1.2886 | Open | – | – |
| EUR/JPY | Long | 127.49 | 125.99 | 130.49 | Open | – | – |
I’ll round up the quarterly numbers on this one in a bit. Think it’ll beat the Q1 2018 figures?