After catching another big win last week, this mechanical system is picking up on new trends and waiting to open fresh positions.
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 signal in the earlier update that gained enough bearish momentum to have its trailing stop activated. Price was unable to make it all the way down to its full target but managed to lock in a few pips on this large pullback.
Cable just hit its full target in the earlier update and has formed a new crossover. Stochastic has yet to dip to the oversold region and pull back up to generate a new signal.
EUR/JPY had a fresh crossover but is still looking at a signal-free week as the system is waiting on stochastic to dip to the overdone levels to generate a long position.
Here are the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1511 | 1.1661 | 1.1211 | Closed | +59 | +0.39 |
Now that the tide appears to be turning for these pairs, think the moves higher could be sustained or is the system about to get caught up in larger retracements? Stay tuned!
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.