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This strategy snagged a couple of early exits on its open euro positions, but luckily these were able to lock in some pips. 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 short position left open in its earlier run, but the signal may have come a wee bit late as price already bottomed out soon after.

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

Fortunately, the stop loss didn’t get hit on that rally, and price was able to head back down before a new crossover triggered an early exit.

This was followed by a Stochastic pullback signal to go long, but it looks like yet another crossover is looming.

GBP/USD scored a big win when it hit its full profit target in the previous update, and the downtrend is still going strong for this pair.

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

I can’t help but wish that the short position was able to stay open to catch even more gains, but I shouldn’t be too greedy!

As for EUR/JPY, the pair had a short position still open from a few weeks back that had its trailing stop activated for a risk-free play. This one hit the early exit on a pullback and bagged a few pips before a bullish crossover materialized.

A long position was opened when Stochastic climbed out of the oversold region almost immediately after the crossover.

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 30, 2020

Pair Position Entry SL PT Status Pips %
EUR/JPY Short 121.41 122.91 119.91 Closed +61 +0.40
EUR/USD Short 1.1254 1.1404 1.0954 Closed +33 +0.22
EUR/USD Long 1.1236 1.1086 1.1536 Open
EUR/JPY Long 119.95 118.45 122.95 Open

With that, the SMA Crossover Pullback System was able to chalk up a decent 94-pip or 0.62% gain for the week.

I know it’s not much compared to the other week’s gains, but I ain’t complainin’ since these small wins were from early exits. Besides, these could be more than enough to yield impressive numbers for 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!