After scoring full wins in the past couple of weeks, was this mech system able to follow through on its strong performance? 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 short position left open in the earlier update, but this barely gained any bearish traction to move further south before it pulled up and snagged an early exit.
Cable hit its 300-pip profit target the other week and the downtrend still had some momentum left going, so there was no new crossover for the week.
Meanwhile, EUR/JPY made a bullish crossover that was followed by a stochastic pullback signal to go long. Unfortunately the pair was stuck in a range and the moving averages made another crossover for a loss.
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1167 | 1.1317 | 1.1017 | Closed | -23 | -0.15 |
| EUR/JPY | Long | 122.97 | 121.47 | 125.97 | Closed | -38 | -0.25 |
Early exits on new crossovers were to blame for these losses as the pairs seem to be reverting to their range-bound behavior. There are no positions left open, though, so the system would be starting on a clean slate for next week.
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?