Yikes, I’m seeing choppy price action on the pairs I’m watching!
Did this strategy manage to trim losses?
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 from waaay back that had its trailing stop locking in gains along the way.
While I’m not too worried about this risk-free position, I’m still gonna keep my robot fingers crossed that EUR/USD is able to resume the climb to the PT instead of getting an early exit.
GBP/USD had a long position left open in the earlier update, and as suspected this had to be closed on a new crossover.
A long position was opened soon after when Stochastic pulled out of the oversold area, and unfortunately this snagged losses on an early exit.
As for EUR/JPY, its short position from the previous update was closed early when a bullish crossover materialized.
A long signal was generated afterwards, and it looks like the climb is gaining some traction. I just hope the position wasn’t opened too late!
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of May 4, 2021
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Long | 1.1873 | 1.1723 | 1.2173 | Open | – | – |
| GBP/USD | Long | 1.3932 | 1.3782 | 1.4232 | Closed | -29 | -0.19 |
| GBP/USD | Short | 1.3958 | 1.4108 | 1.3658 | Closed | +43 | +0.29 |
| GBP/USD | Long | 1.3825 | 1.3675 | 1.4125 | Open | – | – |
| EUR/JPY | Short | 130.00 | 131.50 | 127.00 | Closed | -65 | -0.43 |
| EUR/JPY | Long | 131.64 | 130.14 | 134.64 | Open | – | – |
With that, the SMA Crossover Pullback System chalked up a 51-pip or 0.34% loss for the week.
So far, EUR/USD has at least 119 pips in the bag even if it hits the trailing stop, so this should make up for the losses and more.
In case you missed it, I’ve crunched the numbers for Q1 2021 lately. Check it out!