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.
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.
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.
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:
| 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 | – | – |
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!
