Got another round of early exits on this strategy lately plus a bunch of fresh signals.
Here’s how the recent positions fared.
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 left open from a few weeks back, and this one was faring pretty well until the trend started to turn.
A new crossover took place, but fortunately this early exit was able to lock in some pips for the pair. Phew!
GBP/USD also had a long position left open from a while back, but this one already had its trailing stop activated since last week.When price retreated from its climb in the past few days, this early exit was triggered, locking in 45 pips for Cable.
This was eventually followed by a bearish crossover and a fresh short signal.
Meanwhile, EUR/JPY missed out on a huge chunk of its uptrend since last week, as Stochastic just wouldn’t dip to the oversold region to generate a valid signal then.
When the oscillator finally pulled higher, the uptrend was already exhausted and a reversal was starting. Bah!As you can see from the chart below, the bullish position did not stay open for very long.
Instead, a new crossover led to an early exit and a 20-pip loss.
This was then immediately followed by a Stochastic pullback signal to short. Hopefully this position fares much better than the previous one.
Here’s a look at the latest positions:
SMA Crossover Pullback Positions as of Sept. 14, 2021
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| GBP/USD | Long | 1.3679 | 1.3529 | 1.3979 | Closed | +45 | +0.30 |
| EUR/USD | Long | 1.1808 | 1.1658 | 1.2108 | Closed | +22 | +0.15 |
| EUR/JPY | Long | 130.40 | 128.90 | 133.40 | Closed | -20 | -0.13 |
| GBP/USD | Short | 1.3833 | 1.3983 | 1.3533 | Open | – | – |
| EUR/JPY | Short | 130.08 | 131.58 | 127.08 | Open | – | – |
With that, the SMA Crossover Pullback System closed out with a 47-pip or 0.31% win for the week.
It has a couple of short positions left open on Cable and EUR/JPY, so I’m keeping my robot fingers crossed that bearish momentum picks up for these pairs.
It looks like EUR/USD is waiting on a short signal too, but I’d leave that for the next update.
In the meantime, check out how this strategy fared in Q2 2021.