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Winner winner, chicken dinner! 🍗 This strategy was able to bag some big wins from its short positions. 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 started off with a new bearish crossover that eventually generated a Stochastic pullback signal to short.

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

This bearish trend is still going, and the gap between the moving averages is widening to suggest that momentum is picking up.

I just can’t help but worry that this latest rally might be more than just a pullback, though!

Cable already had a bearish crossover from the earlier update, and this one was able to generate a fresh short signal almost immediately.

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

Good thing it was able to hop in on that downtrend early on as the sell-off gained a lot of traction… enough to hit its full profit target before the end of the week!

That’s another 300 pips or 1.00% in the bag for GBP/USD this month yo!

As for EUR/JPY, the pair already had a short position opened a couple of weeks back. After a slightly larger pullback, bears were able to get their legs back and push the currency pair low enough to have its trailing stop activated.

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

Here’s a look at the latest positions:

SMA Crossover Pullback Positions as of June 23, 2020

Pair Position Entry SL PT Status Pips %
EUR/JPY Short 121.41 122.91 119.91 Open
GBP/USD Short 1.2647 1.2797 1.2347 Closed +300 +2.00
EUR/USD Short 1.1254 1.1404 1.0954 Open

With that, the SMA Crossover Pullback System was able to chalk up an impressive 300-pip or 2.00% gain for the week!

I’m just gonna keep my robot fingers crossed that the remaining short play on EUR/USD doesn’t erase part of these wins and that the risk-free EUR/JPY position still scores a big gain.

So far, I’m pretty happy about this strategy’s comeback this month as it scored FOUR consecutive weekly wins earlier on before taking a bit of a pause last time.

And with just a week left in the quarter, I’m excited to crunch the numbers for Q2, too!

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!