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Got a fresh set of signals on this mechanical system! Have any positions caught some pips yet?

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 new bullish crossover in the earlier update, and a valid long signal emerged as Stochastic climbed out of the oversold region.

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

Even though the pair gained a bit of bullish momentum after bouncing off support, the position had to be closed early on a new crossover.

This early exit resulted in a tiny loss for EUR/USD, but it might’ve saved the pair from a much larger one in case selling pressure picks up from here.

GBP/USD also had a bullish crossover in the earlier update, and this was followed by a long signal as well.

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

So far, Cable is keeping its head above support but the gap between the moving averages is narrowing to reflect weakening bullish momentum.

As for EUR/JPY, a long position was also opened following a bullish crossover from the previous week.

This pair appears to be consolidating and turning slightly lower, though.

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. 17, 2020

Pair Position Entry SL PT Status Pips %
EUR/USD Long 1.1826 1.1676 1.2126 Closed -5 -0.03
GBP/USD Long 1.3221 1.3071 1.3521 Open
EUR/JPY Long 124.25 122.75 127.25 Open

With that, the SMA Crossover Pullback System lost 5 pips or 0.03% for the week, adding a bit more to the previous losses.

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