Things still ain’t looking up for this mechanical trading system as it got caught up in another set of early exits. 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 bullish crossover in the earlier update that was followed by a valid long position. Unfortunately this didn’t last very long as a bearish crossover came after.
On the upside, this early exit actually scored a few pips for the pair. I know it’s not much, but at least it ain’t another loss!
Meanwhile, Cable had a lot going on as one position got closed after another. Just like EUR/USD, this pair managed to scrape some pips off these early exits.
Lastly, EUR/JPY also snagged an early exit with its long position but wound up with a loss. A valid short position was opened soon after.
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| GBP/USD | Short | 1.2520 | 1.2670 | 1.2220 | Closed | +9 | +0.06 |
| GBP/USD | Long | 1.2408 | 1.2258 | 1.2708 | Closed | +13 | +0.08 |
| GBP/USD | Short | 1.2435 | 1.2585 | 1.2135 | Open | – | – |
| EUR/JPY | Long | 121.80 | 120.30 | 124.80 | Closed | -32 | -0.21 |
| EUR/JPY | Short | 121.33 | 122.83 | 118.33 | Open | – | – |
| EUR/USD | Long | 1.1258 | 1.1108 | 1.1558 | Closed | +4 | +0.02 |
A couple of positions are still left open for now, and it’s been pretty tough to stay hopeful that these could avoid early exits in the days ahead. Ugh!
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!