The short position on EUR/JPY finally hit its target, but a couple of early exits snapped off some gains. How did the numbers turn 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 new crossover in the earlier update, and this was soon followed by a stochastic pullback signal to go long.
Unfortunately this had to be closed early on a new crossover, just a good 30 pips above the position’s full stop. A short position was opened almost immediately as stochastic dropped from the overbought region.
Cable also had a long position left open from the previous update and this had to be closed early on a new crossover, too. Unlike EUR/USD, though, this early exit managed to snag a few pips.
A short signal materialized right after, and this one might have its trailing stop in place soon.
EUR/JPY carried on with its downtrend and eventually hit the full profit target for a 300-pip win. Woot woot!
Here are the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.1560 | 1.1410 | 1.1860 | Closed | -120 | -0.80 |
| GBP/USD | Long | 1.3112 | 1.2962 | 1.3412 | Closed | +14 | +0.09 |
| EUR/JPY | Short | 131.77 | 133.27 | 128.77 | Closed | +300 | +2.00 |
| EUR/USD | Short | 1.1511 | 1.1661 | 1.1211 | Open | – | – |
| GBP/USD | Short | 1.3108 | 1.3258 | 1.2808 | Open | – | – |
While the open short position on EUR/USD has yet to gain traction, Cable is looking pretty good with the trailing stop nearly activated. Think the system can follow through with another set of wins next week?
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.
