The long play on EUR/USD was finally closed for a pretty big win.
A couple of other positions on GBP/USD and EUR/JPY are still open and lookin’ good!
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 short play opened in mid-September, and the pair enjoyed a steady decline in the weeks that followed.
The trailing stop had been locking in pips along the way while price inched closer and closer to its PT.
Unfortunately, it missed the mark by 11 measly pips since it dipped only as low as 1.1524!
The pair pulled up soon after, and a new moving average crossover led to an early exit.This happened before the trailing stop could even be reached, allowing EUR/USD to bag 201 pips instead of just 139 pips. Not bad, huh?
GBP/USD had a long position opened in the previous update, and this one seems to be doing well.
I got a bit spooked by that large pullback, but it seems to have gotten more buyers on board since the pair is already up by more than 150 pips from entry.
That means the trailing stop is already activated and locking in pips along the way!Meanwhile, EUR/JPY snagged a nasty loss in the earlier update, but it seems to be making up for it this time.
The pair was able to hop in a long position and is also up by more than 150 pips from its entry, so it already has some profits in the bag.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Oct. 19, 2021
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/USD | Short | 1.1813 | 1.1963 | 1.1513 | Closed | +201 | +1.34 |
| GBP/USD | Long | 1.3600 | 1.3450 | 1.3900 | Open | – | – |
| EUR/JPY | Long | 130.99 | 129.49 | 133.99 | Open | – | – |
With that, the SMA Crossover Pullback System closed out with a 201-pip or 1.34% gain thanks to the winning play on EUR/USD. That makes up for the previous week’s losses!
Both EUR/JPY and GBP/USD have long positions left open, and these are in risk-free mode since the trailing stops are already in place.
This might be shaping up for another positive update in the coming week!
ICYMI, here’s how this strategy fared in Q3 2021.