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An early exit snagged a loss for one of the pairs I’m watching on this system, but the rest of the positions are locking in gains along the way.

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 in the earlier update, and this eventually gained some upside momentum.

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

Heck, bulls gained enough traction to have the pair move 150 pips in the trade’s favor and have the trailing stop activated!

The pair still has a little over a hundred pips to go before hitting its full profit target, so I’m gonna keep my robot fingers crossed that the rally carries on without any major dips.

GBP/USD also had a long position left open in the previous update, but this had to be closed early when a bearish crossover materialized.

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

Unfortunately, the early exit snagged a 30-pip loss for this pair. Still, I’m happy that the position wasn’t closed at a much lower price on those earlier drops.

Soon enough, GBP/USD caught a valid short play when Stochastic turned lower from the overbought zone. This one ain’t lookin’ too good, though, as price popped higher again.

As for EUR/JPY, the pair already closed its long position the other week and is still waiting on a new 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 July 21, 2020

Pair Position Entry SL PT Status Pips %
GBP/USD Long 1.2590 1.2440 1.2890 Closed -30 -0.20
EUR/USD Long 1.1290 1.1140 1.1590 Open
GBP/USD Short 1.2570 1.2720 1.2270 Open

With that, the SMA Crossover Pullback System wound up with a 30-pip or 0.20% dent for the week.

It still has a couple of positions left open, with the long play on EUR/USD locking in pips along the way.

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!