Trends just couldn’t seem to last these days, leaving this strategy with another set of early exits.
Did it catch some pips at least?
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 price barely moved any higher from its entry price.
Bears eventually took over, leading to a downward crossover and an early exit for a loss. Ouch!
Selling pressure seems to have picked up, but Stochastic has yet to reach the overbought region and turn lower in order to generate a short play.GBP/USD also had a long position left open in the previous update, but price simply moved sideways from there.
A new crossover eventually took place, also closing the position in the red. Ugh!
Did EUR/JPY fare any better?The pair’s earlier long position gained a bit of bullish traction but not enough to have the trailing stop activated.
Instead, EUR/JPY also wound up getting stopped out on a new crossover. Its losses were slightly smaller compared to those of EUR/USD and GBP/USD, though.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Aug. 10, 2021
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/JPY | Long | 129.82 | 128.32 | 132.82 | Closed | -25 | -0.17 |
| EUR/USD | Long | 1.1862 | 1.1712 | 1.2162 | Closed | -55 | -0.37 |
| GBP/USD | Long | 1.3951 | 1.3801 | 1.4251 | Closed | -84 | -0.56 |
| EUR/JPY | Short | 129.40 | 130.90 | 126.40 | Open | – | – |
With that, the SMA Crossover Pullback System is closing out the week with a 110-pip or 0.73% dent, adding to the previous week’s losses. I guess the trend ain’t my friend these days, huh?
Only EUR/JPY has a short position going for now, but it looks like EUR/USD and GBP/USD might soon follow suit. Here’s to hoping those turn out better than the latest set!
In the meantime, check out how this strategy fared in Q2 2021.