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It looks like trends are finally starting to pick up for the pairs I’m watching! But did this mech system catch any gains so far?

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 from the previous update and this was followed by a stochastic pullback signal to short. However, this may have been a wee bit late as price didn’t head much lower before turning back up.

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

Unfortunately price didn’t dip low enough to have the trailing stop in place. It ain’t looking good so far since the pair is inching close to its stop loss!

Cable also had a bearish crossover from the earlier week and it took a while before stochastic generated a short signal. Think it might be too late for this one, too?

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

Lastly, EUR/JPY’s short position from earlier on had to be closed on a new crossover for a teensy gain. A long signal popped up soon after, but it wasn’t long before yet another early exit came up.

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

Price gained some downside traction before a short stochastic signal materialized. Keeping my robot fingers that this turns out better than the previous plays!

Here’s how the positions are looking:

Trade Summary:

SMA Crossover Pullback Positions as of August 6, 2019
Pair Position Entry SL PT Status Pips %
EUR/JPY Short 121.33 122.83 118.33 Closed +18 +0.12
EUR/JPY Long 121.05 119.55 124.05 Closed -30 -0.20
EUR/USD Short 1.1142 1.1292 1.0842 Open
GBP/USD Short 1.2213 1.2363 1.1913 Open

And with that, the system wound up with a 12-pip or 0.08% loss on the account, chalking up its ELEVENTH losing week in a row. Although the dent wasn’t as large as in the other weeks, a loss is still a loss!

A couple of positions are still open, but I can’t help but think that the signals popped up at the bottom of the trends. 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!