It looks like trends are having trouble gaining traction these days, yielding another batch of new crossovers for this mech system. Ouch!
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 short position left open from the previous week, but this had to be closed when a bullish crossover happened.
A stochastic pullback signal to go long soon followed, and this position is still open but not looking too good.
Cable also had a short position left open in the earlier update, and this one is still open for now. However, a new crossover looks ready to happen soon.
As for EUR/JPY, the pair had a valid long signal and this position is still open, even though the climb is slowing.
Here’s a look at the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1107 | 1.1257 | 1.0807 | Closed | -31 | -0.20 |
| EUR/USD | Long | 1.1136 | 1.0984 | 1.1436 | Open | – | – |
| GBP/USD | Short | 1.3085 | 1.3235 | 1.2785 | Open | – | – |
| EUR/JPY | Long | 122.40 | 120.90 | 125.40 | Open | – | – |
Check out how this system fared in Q4 2019 and how it’s holding up to other mechanical systems in Forex Ninja’s weekly showcase!