New crossovers forced a few positions from the previous update to close with losses.
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 short position left open in the earlier update, which didn’t fare well when the 100 SMA crossed above the 200 SMA just as the pair traded above the previous update’s highs.
Unfortunately, a fresh crossover cut short the trade’s moves and made a 54-pip dent on the system’s coffers.
GBP/USD also had a short position left open in the previous update, but this had to be closed early when a bullish crossover materialized.
Soon enough, GBP/USD caught a valid long play when Stochastic turned higher from the oversold zone. This one ain’t lookin’ too good, though, as price keeps making lower lows and making lower highs.
As for EUR/JPY, the pair found a valid short after retesting a broken support level on the chart. So far so good.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of August 25, 2020
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1792 | 1.1942 | 1.1492 | Closed | -82 | -0.55 |
| EUR/USD | Long | 1.1853 | 1.1703 | 1.2153 | Closed | -54 | -0.36 |
| GBP/USD | Short | 1.3096 | 1.3246 | 1.2796 | Closed | -133 | -0.89 |
| GBP/USD | Long | 1.3107 | 1.2957 | 1.3407 | Open | – | – |
| GBP/JPY | Short | 125.05 | 126.55 | 122.05 | Open | – | – |
It still has a couple of positions left open, with both a long AND short pound trade that’s bound to make next week’s update interesting.
Check out how this system fared in Q1 2020!
