EUR/USD and GBP/USD picked up on new signals for the week while EUR/JPY carried on with its slide.
How did the latest positions fare?
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 signal-free run last time, then it hit the ground running this week with a fresh bullish crossover.
The pair moved sideways for the most part of the week, but it was able to catch a Stochastic pullback signal to go long.
Gonna keep my robot fingers crossed that volatility picks up in favor of this trade!GBP/USD had a bearish crossover in the previous update, and this was eventually followed by a Stochastic pullback signal to short.
Soon enough, the pair staged a sharp selloff to a low of 1.3194. Unfortunately (or fortunately?) this was not enough to have the trailing stop activated yet.
Still, this keeps the position open while Cable continues to enjoy bearish momentum.Meanwhile, EUR/JPY already scored a full win on a short play a few weeks back and is still trending lower.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Dec. 7, 2021
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| GBP/USD | Short | 1.3321 | 1.3471 | 1.3021 | Open | – | – |
| EUR/USD | Long | 1.2909 | 1.2759 | 1.3209 | Open | – | – |
With that, the SMA Crossover Pullback System is ending the week with no wins or losses, just a couple of open plays!
These dollar pairs are on opposite positions, so one might turn out to be a win while the other could lose out. Hopefully any losses are minimized, though!
ICYMI, here’s how this strategy fared in Q3 2021.