Bah! It’s another week of choppy action and early exits on this mechanical system. Any chance profits were made this time?
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 from the earlier update, but this had to be closed early in the week on a new crossover. A long signal soon followed, and this one is still open.
Cable finally made a new crossover that was almost immediately followed by a stochastic pullback signal to go long. This one is still open also, but I’m a bit concerned that the pair is just moving sideways.
EUR/JPY had a short position left open in the earlier update, and it gained some bearish momentum but not enough to have its trailing stop activated. Bullish pressure eventually took over and led to an early exit on a new crossover for a teensy win.
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1175 | 1.1325 | 1.0875 | Closed | -58 | -0.37 |
| EUR/JPY | Short | 122.07 | 123.57 | 119.07 | Closed | +2 | +0.01 |
| EUR/USD | Long | 1.1234 | 1.1084 | 1.1534 | Open | – | – |
| GBP/USD | Long | 1.2675 | 1.2525 | 1.2975 | Open | – | – |
I’m still seeing a lot of sideways action on these pairs I’m watching, but it also looks like new trends are about to take hold. Just gonna keep my robot fingers that these last longer!
I’ve 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?