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I’m seeing a few new positions on this mech system while trends pick up and volatility kicks into high gear. Here’s what’s up!

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 no new signals the other week as the uptrend kept going, but a bearish crossover just formed this time.

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

The pair is still waiting for a pullback signal to short, though, as the oscillator has yet to reach the overbought zone before turning lower.

Cable scored some pips off its trailing stop in the earlier update then formed a bullish crossover. Unfortunately, the pair hit its full stop loss almost immediately as price continued to tumble.

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

A new crossover took place, but stochastic hasn’t climbed to the overbought region yet to trigger a short entry.

As for EUR/JPY, the moving averages have yet to make a new crossover after the pair hit its full target in the earlier update. It looks like a bullish crossover might follow soon, but that’d have to wait until next week.

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 March 17, 2020
Pair Position Entry SL PT Status Pips %
GBP/USD Long 1.3060 1.2910 1.3360 Closed -150 -1.00

With that, the SMA Crossover Pullback System wound up with a 150-pip or 1% loss for the week, erasing around half of its winnings from last time. Ouch!

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!