Another week, another set of early exits! But did it catch some pips on new crossovers at least? Read on to find out!
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 play left open from the earlier update, and this one is still open but not looking too good.
Price gained bearish momentum but not enough to have its trailing stop activated, so this looming bullish crossover might still yield a loss.
Cable had a long position from the previous update, but this one snagged a loss when a new crossover took place.
This was almost immediately followed by a stochastic pullback signal to short and unfortunately, this position went all the way up to its full stop loss. Ouch!
As for EUR/JPY, the pair’s bearish crossover was finally able to catch a stochastic pullback signal to short, but it looks like the position was opened too late.
Here’s a look at the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1103 | 1.1253 | 1.0803 | Open | – | – |
| GBP/USD | Long | 1.3043 | 1.2893 | 1.3343 | Closed | -29 | -0.19 |
| GBP/USD | Short | 1.3016 | 1.3166 | 1.2716 | Closed | -150 | -1.00 |
| EUR/JPY | Short | 120.02 | 121.52 | 117.02 | Open | – | – |
A couple of positions are left open on the euro pairs, 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!