It was a pretty good week for the mech system as it opened a fresh batch of positions and snagged another full win. Take a look!
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 bullish crossover in the earlier update that was soon followed by a Stochastic pullback signal to go long.
Price is consolidating above the 200 SMA for now, so I guess I’ll just wait and see if more bulls charge at these levels.
Cable scored a full win in the previous update then saw a bullish crossover and valid long signal at the bottom of the drop.
I can’t help but worry that this might just be a bit of a pullback from the earlier slide, though!
As for EUR/JPY, it snagged its stop loss on a short play last week then followed up with a long play that already had its trailing stop activated.
Fortunately, the pair continued to climb and was able to hit its full profit target before turning lower. Woot woot!
That’s a 300-pip gain on EUR/JPY yo! More than enough to make up for its previous loss!
Here’s a look at the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/JPY | Long | 115.50 | 114.00 | 118.50 | Closed | +300 | +2.00 |
| EUR/USD | Long | 1.0938 | 1.0788 | 1.1238 | Open | – | – |
| GBP/USD | Long | 1.2170 | 1.2020 | 1.2470 | Open | – | – |
That makes back-to-back winning weeks, adding gains to its first positive week this quarter. Hmm, I wonder if the wins were enough to put the strategy back in the black for the period… but I guess that’ll have to wait until I crunch the numbers for Q2!
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!
