Got some fresh signals on this strategy, with some locking in pips along the way.
Read on to see how the latest positions are faring.
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 bullish crossover in the earlier update, and this was eventually followed by a Stochastic pullback signal to go long.
The uptrend is looking pretty steady so far, and the pair is climbing close to having the trailing stop activated.
How are the other forex pairs looking?
GBP/USD already had its long position opened in the earlier update, and this one is also lookin’ good!
In fact, Cable already rallied more than 150 pips in the trade’s favor, so the trailing stop is locking in pips along the way.
So far, it has at least 27 pips in the bag, even if the early exit is hit.
Meanwhile, EUR/JPY also had a bullish crossover from a couple of weeks back.
But, as you can see from the chart below, Stochastic has yet to dip to the oversold region before generating a valid long signal.
See how the oscillator hasn’t even fallen below the red line yet? This pair might be missing out on the entire uptrend already!
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Sept. 7, 2021
PAIR POSITION ENTRY SL PT STATUS PIPS %
GBP/USD Long 1.3679 1.3529 1.3979 Open – –
EUR/USD Long 1.1808 1.1658 1.2108 Open – –
With that, the SMA Crossover Pullback System isn’t logging in any wins or losses for the week.
It has a few pips locked in thanks to Cable’s trailing stop, but I can’t help worry that EUR/JPY might catch a long position at the top of the uptrend.
The long position on EUR/USD is looking pretty good as well, so I’m gonna keep my robot fingers crossed that momentum continues to pick up.
