This system snagged some early exits on new crossovers once again but managed to catch some pips. Take a look!
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 from a few weeks back, and this did gain some downside traction but not enough to have its trailing stop activated. With that, the early exit on a new crossover was triggered, but it still managed to lock in 4 pips for the pair.
Cable had a bearish crossover from the earlier update, but it took a while before a short signal was generated. By the looks of it, this position was opened too late at the bottom of the selloff, so it had to be closed on a new crossover – also for a 4-pip gain!
EUR/JPY had a short position from a few weeks back, and this one is steadily moving lower. So far, the trailing stop hasn’t been activated yet, but I’m hopeful it can catch some pips as well.
Here’s how the positions are looking:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.0991 | 1.1141 | 1.0691 | Closed | +4 | +0.02 |
| GBP/USD | Short | 1.2300 | 1.2450 | 1.2000 | Closed | +4 | +0.02 |
| EUR/JPY | Short | 118.19 | 119.69 | 115.19 | Open | – | – |
It’s still a slow crawl down for EUR/JPY as in the previous week, and I’m staying on the lookout for new signals from the fresh crossovers on EUR/USD and GBP/USD.
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!