Quite an even split of wins and losses for USD/JPY and GBP/JPY using this forex strategy in the past week. ICYMI, check out the system’s Q2 2017 performance!
But if this is the first time you’re reading about this strategy, I suggest you take a look at the system rules before reading on.
Also, this tweaked version makes use of an adjusted stop loss size (from the original 20% of the first candlestick to 40% of its length) on both USD/JPY and GBP/JPY.
The system generated these inside bar signals for USD/JPY in the past few days:
Zooming in to the short-term time frames helped me check if these signals were triggered and if any stops or targets were hit.
Yipes, not such a good week for this one. The last inside bar signal on the chart has yet to be triggered, but this pair chalked up a 34-pip loss and the P/L in % depends on how position sizes were calculated.
And here are the inside bar signals for GBP/JPY:
I’d still call this a pretty good week for the Inside Bar Momentum strategy, which rounds up to a good start for Q3 2017. By the looks of it, the stop loss adjustments have given the pairs more leeway to stay in positions much longer instead of getting wiped out on quick corrections. Although these have also sacrificed some profits, I did see notable improvements in terms of consistency so I’ll take that!