This mech system was able to catch a win on a new crossover, but was this enough to make up for the other early exits? 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 short position left open in the earlier update, and this had to be closed on a new crossover. Still, it managed to lock in some pips with this early exit!
A long position was opened almost immediately after, but this chalked up losses when a bearish crossover formed.
Cable’s moving averages were oscillating early in the week, but there were no new stochastic pullback signals to open positions then.
A valid short signal eventually popped up later on, and this position is still open.
As for EUR/JPY, the pair’s short position from the previous week was also closed on a new crossover. Unfortunately, this wound up in a loss.
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 | Closed | +45 | +0.30 |
| EUR/USD | Long | 1.1037 | 1.0887 | 1.1337 | Closed | -56 | -0.37 |
| GBP/USD | Short | 1.2918 | 1.3068 | 1.2618 | Open | – | – |
| EUR/JPY | Short | 120.02 | 121.52 | 117.02 | Closed | -72 | -0.48 |
| EUR/JPY | Long | 120.47 | 118.97 | 123.47 | Open | – | – |
A couple of positions are left open, a short play on Cable and a long play on EUR/JPY, so I’m hoping that at least one of these turns out to be a winner.
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!