Another batch of early exits on this one! Trends just couldn’t seem to last long enough to snag big gains for this mechanical system. Here’s how it’s going.
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 the earlier update, but it wasn’t long before a new crossover popped up and triggered an early exit for a loss.
A long position was opened soon after, but this one ain’t looking too good either.
Meanwhile, Cable had a bullish crossover from the previous update and has been trending higher, but stochastic hasn’t dipped into the oversold region yet to generate a valid long signal.
As for EUR/JPY, the pair had a valid long signal, but price moved mostly sideways before a new crossover closed the position out.
Here’s a look at the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1019 | 1.1169 | 1.0719 | Closed | -69 | -0.46 |
| EUR/JPY | Long | 120.27 | 118.77 | 123.27 | Closed | -24 | -0.16 |
Check out how this system fared in Q3 2019 and how it’s holding up to other mechanical systems in Forex Ninja’s weekly showcase!