It’s time for a fresh batch of valid signals on this mechanical system! Think any of these are gonna end up winners?
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 from the previous update, and this one is still open.
I can’t help but feel worried that the downtrend is starting to slow, but this should be turned into a risk-free trade in just a few more pips.
Cable had a new crossover in the earlier update, and this was followed by a long stochastic pullback signal.
This play doesn’t seem to be going well, though, as price is tumbling and the moving averages look prime for a bearish crossover.
As for EUR/JPY, its short position is still open but not looking too good, as price popped higher and is inching close to its stop loss.
Here’s a look at the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.0913 | 1.1063 | 1.0613 | Open | – | – |
| EUR/JPY | Short | 119.07 | 120.57 | 116.07 | Open | – | – |
| GBP/USD | Long | 1.2992 | 1.2842 | 1.3292 | Open | – | – |
Both euro pairs have short plays going on while Cable has a long position that ain’t lookin’ so good. Hopefully the early exits can still minimize any potential losses!
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!