Another week, another set of early exits! Still, these new crossovers seem to have trimmed losses ahead of trend reversals.
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, and it seemed to gain some upside traction. Unfortunately it wasn’t enough to have the trailing stop in place, so the position had to be closed on a new crossover for a small loss.
Cable also had a long position in the earlier update, but the pair simply moved sideways before making a bearish crossover and tumbling again.
Stochastic hasn’t quite pulled up to the overbought zone, though, so no new positions have been opened yet.
EUR/JPY had a new crossover from the other week that was followed by a stochastic pullback signal to go long. However, this occurred at the top of the trend before price turned south and a new crossover happened.
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.1234 | 1.1084 | 1.1534 | Closed | -20 | -0.13 |
| GBP/USD | Long | 1.2675 | 1.2525 | 1.2975 | Closed | -1 | -0.01 |
| EUR/JPY | Long | 122.75 | 121.25 | 125.75 | Closed | -71 | -0.47 |
Think these trends are finally about to gain traction? It’s been an entire month of weekly losses for this system, and I hope it catches big wins again soon!
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?
