This system snagged some early exits but managed to bag some pips this week.
Here’s how it all added up.
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 position left open from way back, and the trend continues to be its friend!
Price is coming close to having its trailing stop activated, but it also seems to be finding a floor around the 1.1700 region.
I’m a bit worried that the gap between the moving averages is narrowing, possibly leading to an early exit on a new crossover soon. Still, I’m hopeful that this pair catches some gains!
GBP/USD had a bearish crossover in the earlier update, and this one was followed by a Stochastic pullback signal to short.
As you can see from the chart above, this might not have been the best area to short since a much larger pullback followed.
Besides, the trend might also be turning a corner on this one, as the moving averages seem to be bracing for a new crossover. Yikes!
Meanwhile, EUR/JPY snagged an early exit when its short position from waaay back pulled up to the trailing stop.
The pair didn’t exactly dip too close to the profit target, so I’m not so bummed about the downtrend bottoming out.
EUR/JPY 1-hour Forex ChartEUR/JPY 1-hour Forex Chart
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Sept. 28, 2021
PAIR POSITION ENTRY SL PT STATUS PIPS %
EUR/JPY Short 130.08 131.58 127.08 Closed +66 +0.44
EUR/USD Short 1.1813 1.1963 1.1513 Open – –
GBP/USD Short 1.3679 1.3829 1.3379 Open – –
With that, the SMA Crossover Pullback System closed out with a 66-pip or 0.44% gain thanks to the trailing stop on EUR/JPY.
It ain’t enough to make up for the previous losses, but it’s still a pretty decent run!
It has a couple of short positions open on the dollar pairs, but both might be in for early exits on new crossovers soon. Let’s see how these turn out for the last week of this quarter.
