This mechanical trading system managed to avoid another set of early exits this time, but did it catch any pips? Or new positions 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 short position left open from way back, and this didn’t really gain much downside traction in the past weeks. Price popped higher recently, and it looks like a new crossover may be in order.
Cable had a new crossover in the earlier update, and this was followed by a long signal. So far so good on this one since it’s already climbed high enough to have the trailing stop activated. Phew!
EUR/JPY still has its short position from the start of the month open, and bearish pressure picked up somewhat. The trailing stop hasn’t been activated yet, though, and I’m a bit worried that a new crossover might be brewing.
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/JPY | Short | 118.46 | 119.96 | 115.46 | Open | – | – |
| EUR/USD | Short | 1.1151 | 1.1301 | 1.0851 | Open | – | – |
| GBP/USD | Long | 1.2097 | 1.1947 | 1.2397 | Open | – | – |
It’s not looking so good for EUR/USD as the pair might be in for another early exit while EUR/JPY might be able to scrape by with a few pips.
Cable is faring much better since the trailing stop is in play and locking in pips as it goes. Just gotta wait and see!
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!