This week is filled with fresh signals on this mech system, plus one early exit that managed to catch some gains.
How many pips did it make?
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 bullish crossover in the earlier update, and this was followed by a Stochastic pullback signal to go long.
The moving averages are closing the gap, but there might be a chance that EUR/USD closes out with a slight gain if the crossover happens around current levels.
GBP/USD also had a bullish crossover from the previous post. This was also waiting on Stochastic to dip to the oversold region and turn higher to generate a long signal.
Just as in EUR/USD, I do wish the actual signal popped up on the actual dip!
This pair might also be looking at an early exit on a bearish crossover, as the moving averages are inching closer together.
As for EUR/JPY, its short position from a while back had to be closed early on a new crossover.Fortunately this happened at a slightly lower price than entry, so this pair is locking in a small win!
A valid long signal materialized a few days into the uptrend, and I’m hoping this didn’t happen too late.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of May 18, 2021
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/JPY | Short | 132.32 | 133.82 | 129.32 | Closed | +19 | +0.13 |
| EUR/USD | Long | 1.2145 | 1.1995 | 1.2445 | Open | – | – |
| GBP/USD | Long | 1.4134 | 1.3984 | 1.4434 | Open | – | – |
| EUR/JPY | Long | 132.74 | 131.24 | 135.74 | Open | – | – |
With all these wins and losses, the SMA Crossover Pullback System ended up a 19-pip or 0.13% gain for the week.
I know it’s not much, but at least it adds to the earlier gains. Hey, that’s back-to-back weekly wins on this one!
In case you missed it, I’ve crunched the numbers for Q1 2021 lately. Check it out!