Got a bunch of new signals on this mechanical trading system! Do you think trends are about to pick up from here or will we see early exits again?
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 earlier update, and this was followed by a valid stochastic short signal. Unfortunately, the pullback came in too late as the tide turned again and triggered a new crossover.
Cable had a short position opened during the week, and this also had to be closed on a new crossover for a loss. This was followed by a long signal, and the position is still open for now.
After hitting its trailing stop and scoring wins in the previous update, EUR/JPY had a valid long stochastic pullback signal this time.
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1031 | 1.1181 | 1.0731 | Closed | -24 | -0.16 |
| GBP/USD | Short | 1.2177 | 1.2327 | 1.1877 | Closed | -95 | -0.63 |
| GBP/USD | Long | 1.2268 | 1.2118 | 1.2568 | Open | – | – |
| EUR/JPY | Long | 117.86 | 116.36 | 120.86 | Open | – | – |
The SMA Crossover Pullback System wound up with a 119-pip loss or 0.79% dent on the account for the week due to a couple of early exits. Still, two positions are left open and I’m gonna keep my robot fingers crossed that these could fare better.
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!
