More choppy price action for the euro pairs and yet another signal-free week for Cable! Can this system pull off a positive finish before the holidays?
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 long position left open from the previous update and this one had to be closed at a new crossover. Fortunately it managed to catch some pips on this early exit.
A short stochastic signal soon followed, and it does seem to be a legit pullback but only time will tell.
Cable still had no new crossovers as the selloff is showing no signs of stopping, even after the trailing stop was hit a few weeks back!
EUR/JPY was still tossing this way and that as its earlier short position was closed on a new crossover, which was then followed by a long signal that doesn’t seem to be going so well.
Here’s how it all turned out:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/JPY | Short | 128.37 | 129.87 | 125.37 | Closed | -40 | -0.27 |
| EUR/USD | Long | 1.1310 | 1.1160 | 1.1610 | Closed | 52 | +0.35 |
| EUR/JPY | Long | 128.13 | 126.63 | 131.13 | Open | – | – |
| EUR/USD | Short | 1.1336 | 1.1486 | 1.1036 | Open | – | – |
Since Big Pippin invited me over to party for the holidays, I’ll be signing off early for the year. Of course I’ll run the latest trades on my other two systems first and crunch the quarterly numbers on this one, too, so 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 Showcase.