Trends just can’t seem to stay on these days, huh? But was this mech system able to filter out the noise and stay profitable?
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 bearish crossover from the previous week that finally got a valid stochastic pullback signal to short this time.
This one is looking good so far, and I’m hoping that it can at least have the trailing stop activated soon to lock in pips along the way.
Cable had a short position left open in the earlier update, but this one had to be closed early on a new crossover for a loss. Ouch!
As for EUR/JPY, its long position from the other week also had to be closed on a bearish crossover. It took a while before a stochastic short signal followed, so I can’t help but worry that it was opened too late.
Here’s a look at the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| GBP/USD | Short | 1.2918 | 1.3068 | 1.2618 | Closed | -113 | -0.75 |
| EUR/JPY | Long | 120.47 | 118.97 | 123.47 | Closed | -62 | -0.41 |
| EUR/USD | Short | 1.0913 | 1.1063 | 1.0613 | Open | – | – |
| EUR/JPY | Short | 119.07 | 120.57 | 116.07 | Open | – | – |
A couple of short positions are left open on EUR/USD and EUR/JPY. So far it looks like bearish momentum is picking up for both, so I sure hope that these plays are able to catch in some pips soon.
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!