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Trends are once again picking up, allowing this mechanical system to lock in more gains for the week. Here’s how it all turned out.

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 opened a few weeks back, and this already gained enough upside momentum to have its trailing stop activated.

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

Bulls were able to gain even more traction for yet another week, allowing the pair to climb all the way up to its full profit target… and then some!

I’m pretty happy with the gains that this long play was able to lock in, but I still can’t help but wish that it caught those extra hundred pips. Can’t be too greedy, though, right?

GBP/USD had a short position left open from the earlier update, but this didn’t really catch much downside action.

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

Unfortunately, the pair hit its stop loss before a new crossover occurred to trigger an early exit. Still, it would’ve logged in around the same loss anyway.

A fresh long position was opened almost immediately after the bullish crossover, and this one is faring much better as the trailing stop is now locking in pips along the way.

As for EUR/JPY, the pair continues to enjoy strong bullish momentum but doesn’t have any positions open since it already scored a big win on a long play earlier on.

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 28, 2020

Pair Position Entry SL PT Status Pips %
EUR/USD Long 1.1290 1.1140 1.1590 Closed +300 +2.00
GBP/USD Short 1.2570 1.2720 1.2270 Closed -150 -1.00
GBP/USD Long 1.2674 1.2524 1.2974 Open

With that, the SMA Crossover Pullback System wound up with a 150-pip or 1.00% gain for the week, making up for the previous losses.

It still has a long position left open on Cable that’s risk-free, so I ain’t too worried.

Check out how this system fared in Q2 2020 and how it’s holding up to other mechanical systems in Forex Ninja’s weekly showcase!