It’s still all about early exits with this mechanical trading strategy as the pairs I’m watching just can’t seem to stay in trends. Here’s what’s up!
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, but this one had to be closed early on a new crossover for a loss. A short position was opened soon after but it’s not looking too good.
Cable had a short position opened earlier on, but the pair just kept moving sideways until it eventually had to be closed on a new crossover.
As for EUR/JPY, the pair had a long position that didn’t seem to be going well in the previous update.
This position was closed on a new crossover for a loss before another new signal popped up. Sadly, this short play also had to be closed on an early exit.
Here’s a look at the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.1064 | 1.0914 | 1.1364 | Closed | -50 | -0.33 |
| GBP/USD | Short | 1.2896 | 1.3046 | 1.2596 | Closed | -14 | -0.09 |
| EUR/JPY | Long | 120.25 | 118.75 | 123.25 | Closed | -20 | -0.13 |
| EUR/JPY | Short | 120.17 | 121.67 | 117.17 | Closed | -37 | -0.25 |
| EUR/USD | Short | 1.1019 | 1.1169 | 1.0719 | Open | – | – |
Check out how this system fared in Q3 2019 and how it’s holding up to other mechanical systems in Forex Ninja’s weekly showcase!