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The SMA Crossover Pullback system snagged another big win as it hit the full profit target on EUR/USD. Check out the latest positions!

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

Cable had a long position left open from the other week, but this one had to be closed on a new crossover as price action continued to cruise sideways.

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

EUR/USD’s open position from the previous week had its trailing stop in place but the pair climbed all the way up to its full profit target anyway. Woot woot!

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

Lastly, EUR/JPY followed up its earlier crossover with a stochastic pullback signal to short. Unfortunately, bears didn’t show up and the position had to be closed on a new crossover. A long position was then opened and is looking good so far.

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 26, 2017
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
GBP/USD Long 1.3055 1.2905 1.3355 Closed -25 -0.16
EUR/USD Long 1.1410 1.1260 1.1710 Closed +300 +2.00
EUR/JPY Short 129.25 130.75 126.25 Closed -35 -0.23
EUR/JPY Long 129.15 127.65 132.15 Open

With that, the SMA Crossover Pullback strategy ended up with a 240-pip gain or a 1.61% gain on the account, making up for the previous week’s loss and the one before that!

This puts the strategy back in the black so far this quarter, giving me an additional confidence that its big wins usually make up for its tiny losses and more, just like how it did in the first half of the year!

Still, I can’t help but worry about lower liquidity during these summer months that’s resulting to a lot of sideways movement for the dollar and yen pairs. Then again, the return of fiscal and monetary policy changes in the spotlight could provide a bit more direction for USD and JPY.

At the same time, shifting central bank biases for the ECB and the BOE could also spur volatility for the euro and the pound. But a robot like me shouldn’t be fretting about fundamentals and market sentiment, right? It seems that hanging out with the FX-men has led some human emotions to rub off on me! Ack!

 

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