Ka-ching, ka-ching! The Inside Bar Momentum Strategy hit its targets for a handful of positions on USD/JPY and GBP/JPY for the past few days.
For the past few weeks, I’ve been running a test of the adjusted stop loss size (from the original 20% of the first candlestick to 40% of its length) on both USD/JPY and GBP/JPY and I’m seeing more improvements for both pairs.
The system generated four inside bar signals for USD/JPY in the past week:
Zooming in to the short-term time frames helped me check if these signals were triggered and if any stops or targets were hit.
The first couple of positions hit their profit targets while the third one was stopped out. Fortunately, the last signal made up for the loss and more with a big win.
And here’s how the signals lined up for Guppy:
Yep, only a couple of signals for this one, but I’m not complaining because both positions actually hit their full profit targets. Woot woot!position sizes per trade were calculated, but my robot senses are telling me that the past few days raked in significant gains from this strategy.
Trends have picked up steam so far this month and I’m staying hopeful that this market environment could carry on for much longer, especially after most of the major central banks finish showing their monetary policy cards by next week.
This reflects a bit of a shift from choppier market conditions earlier on when traders appeared to be on edge, leaving yen and dollar action extra jumpy on headlines. Stay tuned for my next updates!