This mechanical trading strategy had more than its usual share of valid signals opened on EUR/JPY. But that’s not always a good thing, and here’s why.
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 bearish crossover by the end of the previous update and this was soon followed by a stochastic pullback signal to short. However, price doesn’t seem to be making much downside momentum and a new crossover exit appears to be looming.
Cable hit its trailing stop to snag some pips in the previous update and came close to making a bullish crossover. However, the bearish action simply resumed, so there are no new signals for now.
EUR/JPY, well, saying that price action is a mess would be an understatement. A lot of valid signals were generated even as price moved sideways, leading to a bunch of early exits on new crossovers.
Take a look at how it all turned out!
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/JPY | Short | 128.70 | 130.20 | 125.70 | Closed | +19 | +0.13 |
| EUR/JPY | Long | 128.57 | 127.07 | 131.57 | Closed | -17 | -0.11 |
| EUR/JPY | Short | 129.01 | 130.51 | 126.01 | Closed | -29 | -0.19 |
| EUR/JPY | Long | 129.26 | 127.76 | 132.26 | Open | – | – |
| EUR/USD | Short | 1.1376 | 1.1526 | 1.1676 | Open | – | – |
In the meantime, check out how this mechanical system fared for Q3 2018 and how other strategies are faring in Forex Ninja’s Systems Showcase.
