Most pairs I’m watching on this mech system have been moving sideways, but the strategy still managed to catch some pips on quick trades.
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 from the earlier update, but this didn’t really enjoy much upside momentum after that pop higher.
Although this meant a losing trade for the pair, it appears that the early exit managed to trim losses.
The bearish crossover was followed by a Stochastic pullback to short, and this one is still open.
GBP/USD also moved sideways for the most part of the week, but it snagged a long position just before another crossover happened.
The bearish crossover hasn’t generated a fresh short signal yet since Stochastic has yet to pull up to the overbought zone before turning south.
As for EUR/JPY, the pair topped out on its uptrend (finally!) and saw a bearish crossover late in the week.
This was almost immediately followed by a Stochastic dip from the overbought zone, triggering a valid short play that’s still open.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Mar. 23, 2021
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.1914 | 1.1764 | 1.2214 | Closed | -20 | -0.13 |
| GBP/USD | Long | 1.3847 | 1.3697 | 1.4147 | Closed | +62 | +0.41 |
| EUR/USD | Short | 1.1934 | 1.2084 | 1.1634 | Open | – | – |
| EUR/JPY | Short | 129.66 | 131.16 | 126.66 | Open | – | – |
There are a couple of short positions open on the euro pairs, and it looks like Cable is waiting on a bearish play as well.
In case you missed it, I’ve crunched the numbers for Q4 2020 lately, as well as the system’s overall performance for last year. Check it out!