Another set of early exits on this one, but did the system still managed to catch pips from the latest positions? 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 from the earlier update, but this came a bit late in the downtrend and didn’t dip low enough to have the trailing stop in place. Fortunately, the early exit signal on a new crossover managed to catch a few pips before price pulled much higher up.
Cable came uncomfortably close to hitting its stop on its short position in the previous update, but price eventually climbed back up to that area when a new crossover occurred.
A long position was opened earlier this week after price gapped down over the weekend and stochastic completed its pullback signal.
Meanwhile, EUR/JPY continues to lock in pips as it makes its way closer to the full profit target that I hope it will reach soon.
Here are the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1578 | 1.1728 | 1.1278 | Closed | +14 | +0.09 |
| GBP/USD | Short | 1.3001 | 1.3151 | 1.2701 | Closed | -149 | -0.99 |
| EUR/JPY | Short | 131.77 | 133.27 | 128.77 | Open | – | – |
On a less downbeat note, the EUR/JPY short position is doing mighty fine and locking in gains as the downtrend carries on. I’m keeping my robot fingers crossed that it hits the target before any early exits on either the trailing stop or a new crossover are triggered.
In the meantime, check out how this mechanical system fared for Q3 2018 and how other strategies are faring in Forex Ninja’s Systems Showdown.