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Yikes, I’m seeing choppy price action on the pairs I’m watching!

Did this strategy manage to trim losses?

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 from waaay back that had its trailing stop locking in gains along the way.

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

The pair edged higher throughout the week and came pretty close to the full profit target before pulling back.

While I’m not too worried about this risk-free position, I’m still gonna keep my robot fingers crossed that EUR/USD is able to resume the climb to the PT instead of getting an early exit.

GBP/USD had a long position left open in the earlier update, and as suspected this had to be closed on a new crossover.

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

This was then followed by a valid short signal that also had to be closed early on a new crossover. Luckily, this managed to bag some pips!

A long position was opened soon after when Stochastic pulled out of the oversold area, and unfortunately this snagged losses on an early exit.

As for EUR/JPY, its short position from the previous update was closed early when a bullish crossover materialized.

A long signal was generated afterwards, and it looks like the climb is gaining some traction. I just hope the position wasn’t opened too late!

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 May 4, 2021

Pair Position Entry SL PT Status Pips %
EUR/USD Long 1.1873 1.1723 1.2173 Open
GBP/USD Long 1.3932 1.3782 1.4232 Closed -29 -0.19
GBP/USD Short 1.3958 1.4108 1.3658 Closed +43 +0.29
GBP/USD Long 1.3825 1.3675 1.4125 Open
EUR/JPY Short 130.00 131.50 127.00 Closed -65 -0.43
EUR/JPY Long 131.64 130.14 134.64 Open

With that, the SMA Crossover Pullback System chalked up a 51-pip or 0.34% loss for the week.

So far, EUR/USD has at least 119 pips in the bag even if it hits the trailing stop, so this should make up for the losses and more.

In case you missed it, I’ve crunched the numbers for Q1 2021 lately. Check it out!