It looks like this mech system is still on shaky ground these days as trends just can’t gain much traction. How did the latest positions turn out?
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 the pair didn’t go much lower before a new crossover emerged. Fortunately this was able to score a few pips.
Cable also had a short position left open in the earlier update, but price seems to have bottomed out early in the week. No early exits have been triggered yet, although it looks like a new crossover is brewing.
Lastly, EUR/JPY’s short position from the other week had to be closed on a new crossover for a loss. A long signal soon followed, but it looks like another early exit is coming up. Gah!
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/JPY | Short | 121.60 | 123.10 | 118.60 | Closed | -41 | -0.27 |
| GBP/USD | Short | 1.2520 | 1.2670 | 1.2220 | Open | – | – |
| EUR/USD | Short | 1.1282 | 1.1432 | 1.0982 | Closed | +26 | +0.17 |
| EUR/JPY | Long | 121.80 | 120.30 | 124.80 | Open | – | – |
I’m still disappointed that this system can’t quite jump in on stronger trends recently and that early exits haven’t been able to lock even small gains either. The open positions on GBP/USD and EUR/JPY aren’t looking too good at the moment, too!
Make sure you check out how this system fared in Q2 2019 and how it’s holding up to other mechanical systems in Forex Ninja’s weekly showcase!