Partner Center Find a Broker

Another round of early exits on new crossovers? You guessed it right! Take a look at how the latest positions on this system fared.

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 bearish crossover in the earlier update, but this has yet to be followed by a valid stochastic short signal.

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

As you can see from the chart above, the blue line of stochastic hasn’t quite reached the overbought level yet before turning lower, but it looks like the latest pullback should do the trick.

Meanwhile, Cable had a lot going on as its short position was closed for a loss on a new crossover. This was then followed by a valid long signal, but this position didn’t stay open for very long as another new crossover came up. Bah!

GBP/USD 1-hour Forex ChartGBP/USD 1-hour Forex Chart
GBP/USD 1-hour Forex Chart

Lastly, EUR/JPY had a short position left open in the previous update that gained some bearish traction. However, this wasn’t enough to have the trailing stop activated, so the position is still open even with this big bounce that just happened.

EUR/JPY 1-hour Forex Chart
EUR/JPY 1-hour Forex Chart

Here’s how the positions are looking:

Trade Summary:

SMA Crossover Pullback Positions as of July 30, 2019
Pair Position Entry SL PT Status Pips %
GBP/USD Short 1.2435 1.2585 1.2135 Closed -50 -0.33
EUR/JPY Short 121.33 122.83 118.33 Open
GBP/USD Long 1.2475 1.2325 1.2775 Closed -21 -0.14

And with that, the system wound up with a 71-pip or 0.47% loss on the account, chalking up its TENTH losing week in a row. Ugh!

The short position on EUR/JPY is still open, but I’m not that hopeful about catching a win on this one since a new crossover seems likely to follow. Meanwhile, the possible short signal on EUR/USD might be too late as the downtrend already seems to be bottoming out.

Think this system could catch a break anytime soon?

For now, 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!