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Trends just can’t seem to stay on these days, huh? But was this mech system able to filter out the noise and stay profitable?

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 bearish crossover from the previous week that finally got a valid stochastic pullback signal to short this time.

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

This one is looking good so far, and I’m hoping that it can at least have the trailing stop activated soon to lock in pips along the way.

Cable had a short position left open in the earlier update, but this one had to be closed early on a new crossover for a loss. Ouch!

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

As for EUR/JPY, its long position from the other week also had to be closed on a bearish crossover. It took a while before a stochastic short signal followed, so I can’t help but worry that it 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 18, 2020
Pair Position Entry SL PT Status Pips %
GBP/USD Short 1.2918 1.3068 1.2618 Closed -113 -0.75
EUR/JPY Long 120.47 118.97 123.47 Closed -62 -0.41
EUR/USD Short 1.0913 1.1063 1.0613 Open
EUR/JPY Short 119.07 120.57 116.07 Open

With that, the SMA Crossover Pullback System is down 175 pips or 1.16% for the week due to early exits yet again.

A couple of short positions are left open on EUR/USD and EUR/JPY. So far it looks like bearish momentum is picking up for both, so I sure hope that these plays are able to catch in some pips soon.

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!