Partner Center Find a Broker

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.

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

Cable had a short position in the earlier update, and this was also closed early on a new crossover. Another loss, ugh!

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

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.

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 August 20, 2019
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

With that, the system ended up with a 102-pip or 0.68% loss for the week. So much for the tiny uptick last time!

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!