Another round of early exits on this mech system! But the good news is that it also snagged new signals that might be faring better, too. Take a look!
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 in the earlier update that had to be closed when a bearish crossover took place.
A stochastic pullback signal to short soon followed, and this one seems to be gaining better traction on its downtrend.
Cable had a short position from the earlier update that also saw an early exit. Fortunately this new crossover managed to catch some pips for the pair, phew!
A long stochastic pullback signal took place soon after, but this one ain’t lookin’ too good for now.
As for EUR/JPY, the pair’s long position was closed on an early exit for a loss, but a bearish stochastic pullback signal has yet to form on the new crossover.
Here’s a look at the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.1136 | 1.0984 | 1.1436 | Closed | -33 | -0.22 |
| GBP/USD | Short | 1.3085 | 1.3235 | 1.2785 | Closed | +46 | +0.30 |
| EUR/JPY | Long | 122.40 | 120.90 | 125.40 | Closed | -48 | -0.32 |
| EUR/USD | Short | 1.1103 | 1.1253 | 1.0803 | Open | – | – |
| GBP/USD | Long | 1.3043 | 1.2893 | 1.3343 | Open | – | – |
A couple of positions are left open on EUR/USD and GBP/USD, so I’m gonna keep my robot fingers crossed that at least one of these is able to catch some gains!
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!