Early exits again! The lack of momentum had this mech system caught up in another set of new crossovers for the week. Did it catch some pips at least?
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 long position left open from the other week, but this had to be closed for a loss on a bearish crossover. A short stochastic pullback signal soon followed.
Cable had a short position in the earlier update, and this was also closed early on a new crossover. Another loss, ugh!
EUR/JPY is still trying to keep it together with its short position from a few weeks back, as this one is still open even while bearish momentum seems to be stalling.
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.1198 | 1.1048 | 1.1498 | Closed | -55 | -0.37 |
| GBP/USD | Short | 1.2083 | 1.2233 | 1.1783 | Closed | -47 | -0.31 |
| EUR/JPY | Short | 118.46 | 119.96 | 115.46 | Open | – | – |
| EUR/USD | Short | 1.1151 | 1.1301 | 1.0851 | Open | – | – |
Both euro pairs have open short positions for now, and of course I can’t help but worry that these might run out of downside momentum again.
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!
