Ka-ching, ka-ching! This trading strategy chalked up another full win over the past week and the remaining positions are locking in pips, too.
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 long position left open the other week and, even though price looked like it was in for a reversal back then, bullish momentum eventually returned.
The pair still has around 50 pips to go before making it to the profit target, but at least I can rest easy knowing that this one’s a risk-free position. Phew! 😌
Cable scored a full win a few weeks back then had a fresh long position opened in the earlier update.
That’s another big win on GBP/USD! Woot woot! 🎉
As for EUR/JPY, the pair also scored a big win on a long play recently. Price is still climbing, though, so the moving averages haven’t generated a new crossover just yet.
Here’s a look at the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.0938 | 1.0788 | 1.1238 | Open | – | – |
| GBP/USD | Long | 1.2170 | 1.2020 | 1.2470 | Closed | +300 | +2.00 |
That chalks up three consecutive winning weeks, adding gains to its first positive week this quarter.
All these gains might just be enough to put the strategy back in the black for this 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!