It’s back to choppy price action for the pairs I’m watching, but was this mechanical system able to escape with some wins? Take a look!
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 enjoyed a bit of upside but not enough to have the trailing stop activated. Now price seems to be making a major pullback from its climb and the position might soon be closed on a new crossover.
Cable had a bullish crossover earlier on, but it took a while before a long stochastic pullback signal followed. This position was closed after a few sessions when a new crossover took place and was almost instantly followed by a short stochastic signal.
EUR/JPY had a long position left open and unfortunately this one hit its full stop loss before a new crossover occurred. A short pullback signal soon followed.
Here’s how it all turned out:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.1337 | 1.1187 | 1.1637 | Open | – | – |
| EUR/JPY | Long | 126.34 | 124.86 | 129.34 | Closed | -150 | -1.00 |
| GBP/USD | Long | 1.3225 | 1.3075 | 1.3525 | Closed | -120 | -0.80 |
| GBP/USD | Short | 1.3105 | 1.3255 | 1.2805 | Open | – | – |
| EUR/JPY | Short | 124.44 | 125.94 | 121.44 | Open | – | – |
I’ve got open positions on all the pairs I’m watching, with one long play on EUR/USD and a couple of shorts on the rest… One of these is bound to win, I hope?
Have you checked out how this strategy fared for Q4 2018 yet? Or how it’s holding up to other mechanical systems in Forex Ninja’s weekly showcase?