So far so good on this strategy’s open positions!
One already locked in gains when the trailing stop was hit while another long play is raking in pips along the way.
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 opened late in the previous week, and the pair was able to enjoy a bit of a rally before moving sideways.
Price didn’t climb high enough to activate the trailing stop, though, so this position could still get stopped out or closed early on a new moving average crossover.
The gap between the SMAs is shrinking to reflect weakening bullish momentum, so we might see an early exit on this one soon.GBP/USD is still on its long position opened from waaay back, and the trailing stop has been locking in gains as the uptrend keeps going.
If the trailing stop is hit soon, Cable has at least 87 pips in the bag.
The climb seems to be slowing, however, and the narrowing gap between the moving averages could signal that a crossover is looming.If that happens at current levels, this early exit might actually be able to catch more gains than the trailing stop.
Meanwhile, EUR/JPY also had a long position open from weeks ago, and it finally bagged another win when the trailing stop was triggered.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Oct. 26, 2021
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| GBP/USD | Long | 1.3600 | 1.3450 | 1.3900 | Open | – | – |
| EUR/USD | Long | 1.1580 | 1.1430 | 1.1880 | Open | – | – |
| EUR/JPY | Long | 130.99 | 129.49 | 133.99 | Closed | +100 | +0.67 |
With that, the SMA Crossover Pullback System closed out with a 100-pip or 0.67% gain thanks to the winning play on EUR/JPY.
That’s back-to-back winning weeks for this strategy yo!
Both EUR/USD and GBP/USD have positions left open, and the latter is already holding on to a decent gain.
Hopefully this shapes up for another positive update next week!
ICYMI, here’s how this strategy fared in Q3 2021.