System Update: SMA Crossover Pullback (May 4 – 11)

National Financial Solution > Forex Trading > System Update: SMA Crossover Pullback (May 4 – 11)

It’s another week of choppy moves on the pairs I’m watching!

Did this system get caught up in early exits or did it manage to avoid losses?

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 that had been open for nearly a month already, as bullish momentum kept picking up.

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

It’s just too bad that the pair missed the full profit target by roughly 20 pips, tumbling down to hit the trailing stop instead.

At least it was still able to bag 127 pips in gains!

A short signal popped up soon after, but this had to be closed early as another crossover took place.

GBP/USD had a long position that barely gained upside traction before being closed on an early exit. Fortunately, the new crossover took place at a higher price, so the pair still caught some gains.

GBP/USD 1-hour Forex Chart
GBP/USD 1-hour Forex Chart

This was then followed by a valid short signal just before the pair surged sharply higher, leading to 88 pips in losses.

As for EUR/JPY, its long position seems to have popped up too late in the climb.

Instead, the pair gave up ground and had to be closed on a fresh bearish crossover.

EUR/JPY 1-hour Forex Chart
EUR/JPY 1-hour Forex Chart

Here’s a look at the latest positions:

SMA Crossover Pullback Positions as of May 11, 2021

Pair Position Entry SL PT Status Pips %
EUR/USD Long 1.1873 1.1723 1.2173 Closed +127 +0.85
GBP/USD Long 1.3825 1.3675 1.4125 Closed +70 +0.47
EUR/JPY Long 131.64 130.14 134.64 Closed -8 -0.05
EUR/USD Short 1.2049 1.2199 1.1749 Closed -91 -0.61
GBP/USD Short 1.3912 1.4062 1.3612 Closed -88 -0.57

With all these wins and losses, the SMA Crossover Pullback System ended up a 10-pip or 0.09% gain for the week.

I know it’s not much but given the choppy price action and the early exits, I ain’t complainin’!

In case you missed it, I’ve crunched the numbers for Q1 2021 lately. Check it out!

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *