Another week, another set of new crossovers!
Did this trend-following system manage to lock in some winnings on early exits?
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 earlier update that was eventually followed by a Stochastic pullback signal to short.
This pair enjoyed some bearish momentum midweek, coming close to having the trailing stop activated but falling short by around 20 pips.
It has since pulled higher, but it looks like the downtrend could stay intact.
GBP/USD had a long position left open in the previous update, and this didn’t really make much headway north before a new crossover popped up.
A valid short signal soon followed, and this one is still open.
As for EUR/JPY, its long position from waaay back finally got closed!
Unfortunately, there wasn’t enough bullish momentum to have the trailing stop activated. Still, the new crossover was able to lock in some pips for this pair.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of June 8, 2021
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/JPY | Long | 132.74 | 131.24 | 135.74 | Closed | +26 | +0.17 |
| GBP/USD | Long | 1.4160 | 1.4210 | 1.3860 | Closed | -42 | -0.28 |
| GBP/USD | Short | 1.4164 | 1.4314 | 1.3864 | Open | – | – |
| EUR/USD | Short | 1.2230 | 1.2380 | 1.1930 | Open | – | – |
With all these wins and losses, the SMA Crossover Pullback System ended up with a 16-pip or 0.11% dent for the week.
A couple of short positions are still open, and I hope these are able to take advantage of stronger trends this time instead of getting closed out too quickly.
In case you missed it, I’ve crunched the numbers for Q1 2021 lately. Check it out!