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So far so good on a couple of long plays on this mech system!

One position had to be closed early, but did it catch gains?

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.

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

Unfortunately there was barely any momentum in its favor, causing the position to get closed on a new crossover for a loss.

Stochastic hasn’t reached the oversold region yet, so I’m still waiting on a new long signal.

GBP/USD also had a long position left open from the previous post, and this is faring much better.

In fact, price has climbed enough to activate the trailing stop for a risk-free trade. Woot woot!

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

The pair is within striking distance of its profit target and is holding on to at least 91 pips in gains.

As for EUR/JPY, the pair also enjoyed enough bullish momentum to have the trailing stop in place for its long position.

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

So far it looks like this pair has at least 15 pips in the bag. I know it ain’t much, but I’m still hopeful that it could resume its climb and lock in more gains.

Here’s a look at the latest positions:

SMA Crossover Pullback Positions as of Feb. 23, 2021

Pair Position Entry SL PT Status Pips %
EUR/USD Long 1.2121 1.1971 1.2421 Closed -43 -0.27
GBP/USD Long 1.3834 1.3684 1.4134 Open
EUR/JPY Long 126.78 125.28 129.78 Open

With that, the SMA Crossover Pullback System ended up with a 43-pip or 0.27% loss for the week from the early exit on EUR/USD.

The other long positions on Cable and EUR/JPY are looking good since the trailing stops are already guaranteeing some wins. Fingers crossed these still reach their full targets, though!

In case you missed it, I’ve crunched the numbers for Q4 2020 lately, as well as the system’s overall performance for last year. Check it out!