It’s another set of early exits for this mechanical trading system, but it did manage to catch some pips along the way. Check it 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 previous update, but this had to be closed on a new crossover for a bit of a loss.
A long position soon followed, and this one is still open even though price just seems to be moving sideways for now.
Cable had a short position earlier on, and this also had to be closed on a new crossover. Fortunately for this one, it was able to score a small win!
It turns out that bullish crossover was short-lived, and the pair snagged another short pullback signal.
EUR/JPY’s short position seems to be going well, as price gained more downside momentum. I’m just a bit worried that the gap between the moving averages is closing in!
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1142 | 1.1292 | 1.0842 | Closed | -69 | -0.46 |
| GBP/USD | Short | 1.2213 | 1.2363 | 1.1913 | Closed | +73 | +0.47 |
| EUR/USD | Long | 1.1198 | 1.1048 | 1.1498 | Open | – | – |
| GBP/USD | Short | 1.2083 | 1.2233 | 1.1783 | Open | – | – |
| EUR/JPY | Short | 118.46 | 119.96 | 115.46 | Open | – | – |
This caps off the SMA Crossover Pullback System’s 11-week losing streak. Phew!
All three pairs have positions left open for now, so I’m gonna keep my robot fingers crossed that these turn out positive overall.
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!