Got a fresh batch of signals on this trend-following mech system!
Read on to see how the latest positions are looking.
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 in the earlier update, and this was eventually followed by a Stochastic pullback signal to short.
It seems that the system was able to catch a pullback from the selloff, but the pair seems to be bottoming out already. Yikes!
GBP/USD also had a bearish crossover way back, and it took a while before Stochastic generated a short signal.
The moving averages seem to be suggesting a change in trend and early exit soon, as the gap between the 100 SMA and 200 SMA has narrowed.
As for EUR/JPY, it’s also in the middle of a shift in trend after hitting its full profit target last week.
A bullish crossover already took place, but I’m still waiting on a Stochastic pullback signal to go long.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of July 27, 2021
PAIR POSITION ENTRY SL PT STATUS PIPS %
EUR/USD Short 1.1792 1.1942 1.1492 Open – –
GBP/USD Short 1.3756 1.3906 1.3456 Open – –
With that, the SMA Crossover Pullback System is closing out the week with no wins or losses.
I’m not feeling too good about the open positions on EUR/USD and GBP/USD, though, as new crossovers are looming. Fingers crossed these early exits are still able to keep losses to a minimum!
