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It was a wild ride for this mechanical trading system in the past week as volatility picked up and hit the exit levels on some positions. Check ’em 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 position from the previous update, and this one had to be closed on a new crossover. Fortunately it was able to catch a small gain on the early exit. Phew!

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

A long signal soon popped up, and the strong rally that followed allowed the pair to hit the full target.

Cable had a long position from the earlier update that also had to be closed on a new crossover. A short position came up next, and this one is still open.

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

As for EUR/JPY, its short position from earlier on hit its full stop loss when the pair surged higher. A long position was opened later on, but this also got stopped out. Ouch!

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

The pair still has a short position open for now, and I’m hoping it fares much better than the previous two plays.

Here’s a look at the latest positions:

Trade Summary:

SMA Crossover Pullback Positions as of March 3, 2020
Pair Position Entry SL PT Status Pips %
EUR/USD Short 1.0913 1.1063 1.0613 Closed +27 +0.18
EUR/JPY Short 119.07 120.57 116.07 Closed -150 -1.00
GBP/USD Long 1.2992 1.2842 1.3292 Closed -105 -0.70
EUR/JPY Long 120.10 118.60 123.10 Closed -150 -1.00
EUR/USD Long 1.0886 1.0736 1.1186 Closed +300 +2.00
EUR/JPY Short 119.72 121.22 116.72 Open

With that, the SMA Crossover Pullback System wound up with a 78-pip or 0.52% loss for the week. A short position is still left open for EUR/JPY.

The full losses on EUR/JPY and the relatively large hit on GBP/USD erased the gains from the profitable long EUR/USD position. Too bad!

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!