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It’s another round of early exits on this mech system, but did it manage to bag some pips at least? Here are the latest plays.

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 bullish moving average crossover in the earlier update, and this was followed by a Stochastic pullback signal to go long.

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

The pair tumbled soon after but didn’t go low enough to hit the stop loss.

Fortunately, price bounced right back up before a bearish crossover materialized, closing the position early.

GBP/USD hit its trailing stop in the previous update then later on snagged a valid long play almost as soon as a bullish crossover came up.

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

This position is still open for now, but it ain’t looking too good!

As for EUR/JPY, the pair had a short position left open that had to be closed on a new crossover.

This was then followed by a long position that was closed quickly (Ugh, another loss!) when another bearish crossover popped up right before the drop.

EUR/JPY 1-hour Forex Chart
EUR/JPY 1-hour Forex Chart

Fortunately the latest short play is looking good with the trailing stop already activated and locking in pips along the way.

Here’s a look at the latest positions:

SMA Crossover Pullback Positions as of September 22, 2020

Pair Position Entry SL PT Status Pips %
EUR/USD Long 1.1845 1.1795 1.2145 Closed -100 -0.6
GBP/USD Long 1.2932 1.2772 1.3232 Open
EUR/JPY Short 125.41 126.91 122.41 Closed -19 -0.13
EUR/JPY Long 125.00 123.50 128.00 Closed -83 -0.55
EUR/JPY Short 124.23 125.73 121.23 Open

With that, the SMA Crossover Pullback System wound up with a 202-pip or 1.35% dent for the week, erasing the previous gains.

There are still a couple of open positions, with one already in the black and the other looking a bit shaky. Gonna wait and see how it turns out next week!

Check out how this system fared in Q2 2020.