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Trends didn’t last very long recently, causing the open positions on this strategy to get closed out. Did early exits manage to save the day?

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 opened, and this one didn’t really gain much bearish traction.

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

Instead, the pair went the opposite direction and zoomed right up to the stop loss before a new crossover even occurred. Ouch!

So far, Stochastic hasn’t pulled out of the oversold region to generate a valid long signal yet.

GBP/USD also had a short position left open in the earlier update that seemed to have avoided getting stopped out on a sharp bounce.

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

Unfortunately the climb soon resumed and the pair also hit its stop before a new crossover could trim the losses.

Cable is still waiting on a Stochastic pullback from the oversold region to catch a bullish position after the latest crossover.

As for EUR/JPY, its earlier short position was able to gain a bit of bearish traction before price eventually bottomed out.

Fortunately a new crossover was able to keep the losses at a minimum before price surged sharply higher.

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. 11, 2020

Pair Position Entry SL PT Status Pips %
GBP/USD Short 1.2967 1.3117 1.2667 Closed -150 -1.00
EUR/JPY Short 122.72 124.22 119.72 Closed -13 -0.09
EUR/USD Short 1.1710 1.1860 1.1410 Closed -150 -1.00

With that, the SMA Crossover Pullback System lost 313 pips or 2.09% for the week, adding to the previous losses.

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