Got a couple of open positions on the euro pairs and a big win on Cable! Take a look at the latest plays on this mech system.
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 pretty messy run last week on choppy price action, but it seems to be seeing a cleaner trend this time.
Cable had a long position from a few weeks back, and this one finally hit its full profit target. Woot woot!
A bearish crossover followed but stochastic hasn’t really reached the overbought zone just yet to generate a pullback signal.
EUR/JPY has a fresh short position open after hitting its trailing stop last week.
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| GBP/USD | Long | 1.2268 | 1.2118 | 1.2568 | Closed | +300 | +2.00 |
| EUR/USD | Short | 1.0991 | 1.1141 | 1.0691 | Open | – | – |
| EUR/JPY | Short | 118.19 | 119.69 | 115.19 | Open | – | – |
It’s a slow crawl down for both EUR/JPY and EUR/USD on their short positions so far, but I’m keeping my robot fingers crossed that they could still end positive.
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!