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Another round of early exits on this mech system! But the good news is that it also snagged new signals that might be faring better, too. 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 long position left open in the earlier update that had to be closed when a bearish crossover took place.

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

A stochastic pullback signal to short soon followed, and this one seems to be gaining better traction on its downtrend.

Cable had a short position from the earlier update that also saw an early exit. Fortunately this new crossover managed to catch some pips for the pair, phew!

GBP/USD 1-hour Forex Chart
GBP/USD 1-hour Forex Chart

A long stochastic pullback signal took place soon after, but this one ain’t lookin’ too good for now.

As for EUR/JPY, the pair’s long position was closed on an early exit for a loss, but a bearish stochastic pullback signal has yet to form on the new crossover.

EUR/JPY 1-hour Forex Chart
EUR/JPY 1-hour Forex Chart

Here’s a look at the latest positions:

Trade Summary:

SMA Crossover Pullback Positions as of January 28, 2020
Pair Position Entry SL PT Status Pips %
EUR/USD Long 1.1136 1.0984 1.1436 Closed -33 -0.22
GBP/USD Short 1.3085 1.3235 1.2785 Closed +46 +0.30
EUR/JPY Long 122.40 120.90 125.40 Closed -48 -0.32
EUR/USD Short 1.1103 1.1253 1.0803 Open
GBP/USD Long 1.3043 1.2893 1.3343 Open

With that, the SMA Crossover Pullback System is down another 31 pips or 0.20% for the week because of the losing positions on the euro pairs.

A couple of positions are left open on EUR/USD and GBP/USD, so I’m gonna keep my robot fingers crossed that at least one of these is able to catch some gains!

Check out how this system fared in Q4 2019 and how it’s holding up to other mechanical systems in Forex Ninja’s weekly showcase!