Sideways action led to another set of early exit signals on this trend-following strategy, and here’s how the latest positions turned out.
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 left open from the earlier update, but this had to be closed on yet another new crossover. A short stochastic pullback signal soon followed.
Cable’s long position from the other week also had to be closed early on a bearish crossover, which was then followed by a short signal.
As for EUR/JPY, the uptrend is still going so there have been no new crossovers yet. Too bad so many pips have been left on the table after the previous long position already hit its target!
To summarize, here are the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.1751 | 1.1601 | 1.2051 | Closed | -68 | -0.45 |
| GBP/USD | Long | 1.3212 | 1.3062 | 1.3512 | Closed | -12 | -0.08 |
| EUR/USD | Short | 1.1696 | 1.1846 | 1.1396 | Open | – | – |
| GBP/USD | Short | 1.3274 | 1.3424 | 1.2974 | Open | – | – |
To its credit, though, it was able to trim potential losses as the exit signals from new crossovers popped up at slightly better prices than the dips.
ICYMI, check out how this mechanical system fared for Q2 2018 and how other strategies are faring in Forex Ninja’s Systems Showdown!