Some of that choppy price action on EUR/JPY last time appears to be spilling over to EUR/USD while Cable has yet to get a new crossover. Here’s what’s happenin’!
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 in the earlier update, and this didn’t pan out so well since it was closed on a new crossover.
A long stochastic pullback signal soon followed, but this seems doomed to suffer the same fate as the earlier position as the moving averages are moving closer again.
Cable still had no new crossovers as the selloff is showing no signs of stopping. Too bad the system wasn’t able to stay on these extra moves since the trailing stop was already hit a few weeks back!
EUR/JPY’s price action was still a mess, but thankfully not as chaotic as the other week’s. Even so, it snagged another loss on an early exit and might be stuck in this sideways action for some time.
Here’s how it all turned out:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/JPY | Long | 129.26 | 127.76 | 132.26 | Closed | -97 | -0.65 |
| EUR/USD | Short | 1.1376 | 1.1526 | 1.1676 | Closed | -4 | -0.03 |
| EUR/JPY | Short | 128.37 | 129.87 | 125.37 | 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.