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Another week, another set of early exits! But did it catch some pips on new crossovers at least? Read on to find out!

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 play left open from the earlier update, and this one is still open but not looking too good.

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

Price gained bearish momentum but not enough to have its trailing stop activated, so this looming bullish crossover might still yield a loss.

Cable had a long position from the previous update, but this one snagged a loss when a new crossover took place.

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

This was almost immediately followed by a stochastic pullback signal to short and unfortunately, this position went all the way up to its full stop loss. Ouch!

As for EUR/JPY, the pair’s bearish crossover was finally able to catch a stochastic pullback signal to short, but it looks like the position was opened too late.

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 February 4, 2020
Pair Position Entry SL PT Status Pips %
EUR/USD Short 1.1103 1.1253 1.0803 Open
GBP/USD Long 1.3043 1.2893 1.3343 Closed -29 -0.19
GBP/USD Short 1.3016 1.3166 1.2716 Closed -150 -1.00
EUR/JPY Short 120.02 121.52 117.02 Open

With that, the SMA Crossover Pullback System is down 179 pips or 1.19% for the week because of the losing positions on Cable.

A couple of positions are left open on the euro pairs, 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!