Has this mech system finally been able to put an end to its losses from new crossovers? Or did it see yet another round of early exits?
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 kicked the week off with a short play almost immediately after the bearish crossover. However, this didn’t gain much bearish traction at all and had to be closed early on a new crossover. Thank goodness that happened before the full stop was hit, though!
Cable also had a new crossover in the earlier update, but the actual stochastic pullback signal to short happened around the very bottom of the move.
Unfortunately, the pair didn’t have much room to head south from there and instead turned higher to hit its stop loss. Ouch!
Lastly, EUR/JPY also had a short position opened that doesn’t seem ready to head further south either. An early exit on a new crossover seems to be brewing, so I’m keeping my robot fingers crossed that this trims potential losses, too.
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1223 | 1.1373 | 1.0973 | Closed | -95 | -0.63 |
| GBP/USD | Short | 1.2558 | 1.2708 | 1.2258 | Closed | -150 | -1.00 |
| EUR/JPY | Short | 121.97 | 123.47 | 118.97 | Open | – | – |
I do hope that the trends are soon able to gain traction or at least score some gains on the system instead of slowly erasing earlier gains.
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?
