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Early exits managed to trim losses for this mech system as trends shifted quickly. How did the numbers turn 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 left open from the earlier update, but price didn’t really gain any upside momentum.

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

Instead, the pair went south and a bearish crossover materialized. This managed to close out the position for a small loss before EUR/USD eventually hit the full stop loss. Phew!

No new signals have come up for this pair yet as Stochastic hasn’t reached the overbought zone.

GBP/USD also had a long position left open in the earlier update that didn’t move much further up.

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

Unfortunately the stop loss was hit on a sharp dip lower before a new crossover occurred.

A short position was soon opened when stochastic reached the overbought zone and turned lower. Hopefully, this position fares much better!

As for EUR/JPY, its long position from the previous week also had an early end when a new crossover closed it out.

This was then followed by a valid short signal on a pullback, and this position appears to be gaining downside traction.

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

Here’s a look at the latest positions:

SMA Crossover Pullback Positions as of Nov. 3, 2020

Pair Position Entry SL PT Status Pips %
EUR/USD Long 1.1848 1.1698 1.2148 Closed -100 -0.67
GBP/USD Long 1.3072 1.2922 1.3372 Closed -150 -1.00
EUR/JPY Long 123.81 122.31 126.81 Closed -21 -0.14
GBP/USD Short 1.2967 1.3117 1.2667 Open
EUR/JPY Short 122.72 124.22 119.72 Open

With that, the SMA Crossover Pullback System lost 271 pips or 1.81% for the week, adding to the previous dent. Ouch!

In case you missed it, I’ve crunched the numbers for Q3 2020 lately. Check it out!