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It’s time for a fresh set of valid signals on this mech system! Here’s how the latest positions are looking.

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 bearish crossover from way back, and it took a while before Stochastic reached the overbought zone to generate a valid short signal.

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

The downtrend seems to be bottoming out already, but the short position is still open. I hope it doesn’t get stopped out if a reversal takes place from here!

GBP/USD had a bearish crossover in the previous update, and this was followed by a valid short signal.

Unfortunately, this position snagged the full stop loss on a rally.

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

With that, Cable snagged a 150-pip or 1% loss for the week.

As for EUR/JPY, its short position from earlier on already has the trailing stop activated and locking in pips along the way.

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

The pair moved sideways for the most part of the week, so the short play is still open. It looks like it might get closed early on a new crossover, though!

Here’s a look at the latest positions:

SMA Crossover Pullback Positions as of September 29, 2020

Pair Position Entry SL PT Status Pips %
GBP/USD Short 1.2745 1.2895 1.2445 Closed -150 -1.00
EUR/USD Short 1.1670 1.1820 1.1370 Open
EUR/JPY Short 124.23 125.73 121.23 Open

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

EUR/JPY still has its risk-free position locking in at least a few pips while EUR/USD also has a short play left open. Think these could result in some gains before Q3 comes to a close?

Check out how this system fared in Q2 2020.