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It’s another shaky week for this mech system as it got caught up in a set of early exits on new crossovers. Here’s what happened.

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 earlier update, and stochastic finally reached the overbought region then turned lower to generate a sell signal.

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

Unfortunately, the pair didn’t move any further south as it simply traded sideways then popped higher.

A new bullish crossover took place and closed the short position early for a loss. This was followed by another stochastic pullback for a valid long signal that’s still open for now.

Cable got stopped out on its long position in the earlier update before a bearish crossover took place.

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

This short play didn’t have any bearish traction in it either, and the position had to be closed early on a new bullish crossover.

This one has yet to generate a stochastic pullback signal to go long, though.

As for EUR/JPY, a short position was left open the other week and it seemed to be going well back then.

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

Unfortunately, sideways price action followed and a new crossover materialized. A new long position was opened before the end of the week.

Here’s a look at the latest positions:

Trade Summary:

SMA Crossover Pullback Positions as of April 14, 2020
Pair Position Entry SL PT Status Pips %
EUR/JPY Short 117.85 119.35 114.85 Closed -101 -0.67
GBP/USD Short 1.2375 1.2525 1.2075 Closed -98 -0.65
EUR/USD Short 1.0887 1.1037 1.0587 Closed -76 -0.51
EUR/JPY Long 117.58 116.08 120.58 Open
EUR/USD Long 1.0933 1.0783 1.1233 Open

This puts the SMA Crossover Pullback System down 275 pips or 1.83% for the week, adding to the previous week’s losses.

Check out how this system fared in Q1 2020 and how it’s holding up to other mechanical systems in Forex Ninja’s weekly showcase!