This mech system saw a few early exits on new crossovers but still managed to rake in some gains. See how the latest positions turned out!
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 from the other week but sadly, this did not gain much downside momentum before turning higher and getting closed on a new crossover.
Fortunately it was able to make this early exit at a lower price and lock in some gains. A new position was opened soon after, but I’m a bit concerned that the pair is just moving sideways.
Cable also had a short position left open but just as I feared, this was generated too late at the bottom of the slide. The position was also closed on a new crossover, just a few pips shy of its stop loss.
The pair also scored a new long signal soon after, and it’s looking good so far.
EUR/JPY still has its short position going from a few weeks back, and the trailing stop was rolled down after that gap lower. Price seems to be edging close to its full target, but I don’t want to get too excited about it!
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1246 | 1.1496 | 1.0946 | Closed | +68 | +0.45 |
| GBP/USD | Short | 1.2946 | 1.3096 | 1.2646 | Closed | -146 | -0.97 |
| EUR/JPY | Short | 126.02 | 127.52 | 123.02 | Open | – | – |
| GBP/USD | Long | 1.3032 | 1.2882 | 1.3332 | Open | – | – |
| EUR/USD | Long | 1.1152 | 1.1002 | 1.1452 | Open | – | – |
All three pairs have positions left open, with EUR/JPY locking in pips with its ongoing short play while the dollar pairs try to catch gains on long positions.
I’ve recently crunched 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?