It was another mixed run for this trend-following strategy as it caught a full win but also got one of its positions stopped out. Here’s how it all added 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 a short position left open in the earlier update, and price gained a bit of downside momentum before moving mostly sideways.

In short, this pair snagged an early exit but was able to bag some pips. Phew!
No new positions have been opened after the bullish crossover since Stochastic has yet to dip to the oversold region and turn back up.
Cable also had a short position left open in the previous update, and the pair enjoyed a lot of downside momentum afterward!

That locks in a 300-pip or 2% gain on Cable. Ka-ching, ka-ching!
By the looks of it, the moving averages appear to be suggesting that the pair could head much further south as the gap between the indicators is still pretty wide.
As for EUR/JPY, its earlier short position didn’t get any bearish traction at all as price just kept climbing all the way up to its full stop loss.

A fresh long position was opened soon after, and this seems to be doing well as price popped sharply higher. The trailing stop is already activated on this one, so I’m not too worried.
Here’s a look at the latest positions:
Trade Summary:
Pair | Position | Entry | SL | PT | Status | Pips | % |
---|---|---|---|---|---|---|---|
GBP/USD | Short | 1.2396 | 1.2546 | 1.2096 | Closed | +300 | +2.00 |
EUR/USD | Short | 1.0840 | 1.0990 | 1.0540 | Closed | +20 | +0.13 |
EUR/JPY | Short | 114.90 | 116.40 | 111.90 | Closed | -150 | -1.00 |
EUR/JPY | Long | 115.50 | 114.00 | 118.50 | Open | – | – |
I know it’s not enough to erase the earlier losses, but I’m just relieved that this forex strategy was finally able to chalk up a positive week this quarter!
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!