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.
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.
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.
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 | – | – |
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!
