Just when it seemed that this strategy would get caught up in sideways action again, it was able to snag a full win on Cable. Take a look!
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 from the previous week and, even though there was some bearish follow-though, price didn’t fall enough to activate the trailing stop. Price continues to pace back and forth, so this one is still open.
Cable had a short position from the previous update and price made it all the way down to its full profit target. Woot woot!
As for EUR/JPY, the pair finally made a new crossover after its nearly nonstop climb, so I’m on the lookout for a stochastic pullback signal to short.
To summarize, here are the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1696 | 1.1846 | 1.1396 | Open | – | – |
| GBP/USD | Short | 1.3274 | 1.3424 | 1.2974 | Open | +300 | +2.00 |
ICYMI, check out how this mechanical system fared for Q2 2018 and how other strategies are faring in Forex Ninja’s Systems Showdown!