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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.

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

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!

GBP/USD 1-hour Forex Chart
GBP/USD 1-hour Forex Chart

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.

EUR/JPY 1-hour Forex Chart
EUR/JPY 1-hour Forex Chart

Here’s how it all turned out:

Trade Summary:

SMA Crossover Pullback Positions as of December 4, 2018
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

Ugh! With that, the SMA Crossover Pullback System wound up with a 101-pip loss or a 0.68% dent on the account. Still not the strong comeback from previous large losses that I’m waiting to see!

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.