Aha! This mech system hit its full target to score a big win on one pair last week. I bet you can already tell which one it is!
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 in the earlier update, but this also had to be closed early on a bearish crossover. Fortunately, this took place at a higher price than entry, scoring some pips.
The bearish crossover didn’t last very long, though, as a new one took place almost immediately and another long signal was generated.
Cable had a long play left open from the other week that enjoyed a big rally but was unable to have the trailing stop activated. Instead, this position had to be closed on a new crossover also. A short signal soon followed.
Last but certainly not least is EUR/JPY that had a short position going on for quite some time, with the trailing stop locking in gains along the way. Fortunately, bears still had another push left in ’em, enough to take the pair down to its full target
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/JPY | Short | 126.02 | 127.52 | 123.02 | Closed | +300 | +2.00 |
| GBP/USD | Long | 1.3032 | 1.2882 | 1.3332 | Closed | -34 | -0.27 |
| EUR/USD | Long | 1.1152 | 1.1002 | 1.1452 | Closed | +51 | +0.34 |
| GBP/USD | Short | 1.3026 | 1.3176 | 1.2726 | Open | – | – |
| EUR/USD | Long | 1.1230 | 1.1080 | 1.1530 | Open | – | – |
Cable wasn’t so lucky as its early exit churned out a loss, but it still has a chance to make up for it with the ongoing short position. EUR/USD has an opposite position open, so it’ll be interesting to see which pair will be able to chalk up gains later on.
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?