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I’ve got a bunch of new positions opened on this mechanical trading system. Check ’em out to see if these are likely to score some pips!

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 following a bearish crossover from the previous week. The pair gained some bearish traction soon after, but it hasn’t been enough to have the trailing stop in place just yet.

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

Cable had a new crossover in the earlier update, and it took a while before a short stochastic signal followed. I’m just worried this came too late!

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

Lastly, EUR/JPY had a new short position opened as well. This one’s faring slightly better as it dipped low enough to have the trailing stop in place and locking in at least 50 pips.

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

Here’s how the positions are looking:

Trade Summary:

SMA Crossover Pullback Positions as of April 30, 2019
Pair Position Entry SL PT Status Pips %
EUR/USD Short 1.1246 1.1496 1.0946 Open
GBP/USD Short 1.2946 1.3096 1.2646 Open
EUR/JPY Short 126.02 127.52 123.02 Open

And with that, the system had no new wins or losses for the week… only open positions.

I’m slightly worried that the signals on EUR/USD and GBP/USD happened at the bottom of the trend and that either a big retracement or actual reversal is starting to take place. Still, I’m hopeful that the short position on EUR/JPY could make it all the way down to the target to make up for potential losses.

I’ve just finished crunching the numbers for Q1 2019, so make sure you check that one out! How is it holding up to other mechanical systems in Forex Ninja’s weekly showcase?