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The SMA Crossover Pullback system is kicking off Q3 2017 with a couple of long positions on EUR/USD and GBP/USD. How did these turn out?

If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.

EUR/USD had a new crossover that led to an early exit on its short position from the other week, and this was followed by a stochastic pullback signal to go long. Another crossover caused this position to get closed early again, but this failed to generate a short pullback signal since the slower stochastic didn’t go beyond the 75.00 level before turning lower.

An upward crossover has taken place so I’m on the lookout for a long stochastic pullback signal from here.

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

Cable also ended the previous quarter with a new crossover and a pullback signal to go long soon followed. Unfortunately, this had to be closed with a small loss when a downward crossover materialized. Think the latest short position could gain more momentum?

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

Lastly, EUR/JPY hasn’t formed any new crossovers since hitting its full profit target in the last week of June. Bullish momentum has been really strong and I do wish I could’ve stayed in this uptrend for much longer!

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

Here are the latest positions:

Trade Summary:

SMA Crossover Pullback Positions as of July 12, 2017
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
EUR/USD Long 1.1370 1.1220 1.1670 Closed +40 +0.27
GBP/USD Long 1.2945 1.2795 1.3245 Closed -65 -0.43

With that, the SMA Crossover Pullback strategy ended up with a 25-pip loss or a 0.16% dent on the account. Not exactly the strong start I hoped for this Q3!

But if the Q1 and Q2 performance are any indication, this mech system usually has its ups and downs during certain market environments then it manages to catch big wins when trends are strong. I can’t help but worry that the summer months might take its toll on liquidity and volatility, but it looks like monetary policy biases could lead to big moves still!

In case you missed it, here’s a review of the system’s Q1 2017 and Q2 2017 performance.