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Ack! I may have spoken too soon about early exits snapping up gains for this strategy, as a bunch of new crossovers yielded tiny losses this time.

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 from the earlier update, and this had to be closed early when a bearish crossover materialized.

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

A new signal popped up soon after, but this also had to be closed early when another crossover took place.

Unfortunately, both early exits snagged losses for the pair as price action was mostly moving sideways for the week. The latest bullish crossover is still waiting on a Stochastic pullback signal to go long.

GBP/USD hasn’t had any new signals for a while as its downtrend simply kept going, but a fresh bullish crossover formed this time.

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

Stochastic has yet to dip to the oversold region and turn higher to generate a valid long play, so I’ll keep my robot eyes peeled for one.

As for EUR/JPY, the pair already had a long position left open earlier on, and this one has slowly gained bullish traction enough to have the 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 July 7, 2020

Pair Position Entry SL PT Status Pips %
EUR/USD Long 1.1236 1.1086 1.1536 Closed -23 -0.15
EUR/USD Short 1,1254 1.1404 1.0954 Closed -43 -0.28
EUR/JPY Long 119.95 118.45 122.95 Open

With that, the SMA Crossover Pullback System wound up with a 66-pip or 0.43% loss for the week. Not the best way to start the quarter, huh?

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!