Trends are still looking pretty strong on the pairs I’m watching under this trading strategy. Did it catch any new signals yet?
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 already hit its full profit target a few weeks back, and the uptrend is still going.
EUR/USD 1-hour Forex Chart
Bullish momentum seems to be slowing down as the gap between the moving averages has narrowed. A new crossover has yet to happen to generate a fresh signal, though.
GBP/USD hit its full profit target the other week, and the bullish trend also continues to gain traction on this pair.
GBP/USD 1-hour Forex Chart
The trend appears to be winding down as well, with moving averages narrowing and hinting that a bearish crossover could take place soon.
EUR/JPY, the pair is still signal-free for the umpteenth week as the uptrend has been keepin’ on for nearly a couple of months already!
EUR/JPY 1-hour Forex Chart
With that, the
Crossover Pullback System didn’t log in any fresh positions for the week.
Even though I wish the strategy had been able to stay in these strong trends for much longer, I’m not too bummed out since all three pairs I’m watching managed to chalk up big gains recently.
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!