So close! The previous week’s trades based on the SMA Crossover Pullback forex mechanical system came within a few pips shy of their targets before reversing. Here’s how it all turned out. If this is the first time you’re reading about this strategy, make sure you check out its forex trading rules right here.
The short position on AUD/USD dipped to the .6900 level last week, just 20 pips away from its PT at .6880, before the moving averages showed a new crossover to signal an early exit. A new buy signal materialized before the end of the week and I do hope that fares much better!
Cable was in the same boat, as it also missed the PT at 1.5130 before turning higher and seeing a new crossover. A new signal popped up towards the end of the week as well.
EUR/USD also came within striking distance of its PT at 1.0975 before showing an upward crossover. However, there have been no new signals for the pair just yet, as stochastic didn’t dip to the oversold region.
Lastly, after actually hitting its PT the other week, EUR/JPY showed a buy signal on a stochastic pullback.
Here are the latest positions:
| SMA Crossover Pullback Positions as of Sept. 11, 2015 | |||||||
|---|---|---|---|---|---|---|---|
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
| AUD/USD | Short | .7180 | .7330 | .6880 | Closed | +169 | 1.13 |
| GBP/USD | Short | 1.5430 | 1.5580 | 1.5130 | Closed | +30 | 0.20 |
| EUR/USD | Short | 1.1275 | 1.1425 | 1.0975 | Closed | +10 | 0.07 |
| EUR/JPY | Long | 136.00 | 134.50 | 139.00 | Open | – | – |
| AUD/USD | Long | .7050 | .6900 | .7350 | Open | – | – |
| GBP/USD | Long | 1.5430 | 1.5580 | 1.5730 | Open | – | – |
As you can see from the table above, the SMA Crossover Pullback forex mechanical system still managed to churn out profits even with those misses and early exits. It scored a total of 209 pips or a 1.40% gain on the account, chalking up its third consecutive week in the green. It’s time for a happy robot dance!
It looks like the current long positions are in positive territory for now but I don’t want to count my chickens before they’ve hatched. I might end up jinxing ’em again! I’ll keep you posted on how these trades turn out next week.