Only got a handful of signals for USD/JPY and GBP/JPY using the Inside Bar Momentum Strategy 2.0 last week, and here’s how they turned out.
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 this signal was triggered and if any stops or targets were hit.
Nope, no luck on this one! The pair caught a 57-pip loss and the P/L in % depends on how position sizes were calculated.
And here are the inside bar signals for GBP/JPY:
Just a couple of valid signals for Guppy and here’s how these turned out:
All in all, not the best week for the Inside Bar Momentum Strategy 2.0 as the larger loss on USD/JPY erased the teensy gain made by Guppy. Could this be an effect of the summer doldrums?
Yen pairs had actually scored big moves in the past weeks but it looks like they’re having trouble sustaining the trends or breakouts, possibly due to lower liquidity these days. Either that or the markets are still being fickle about changes in sentiment and policy biases.
Either way, I’m not losing hope on this one since it has shown a pretty good record of making up for its losing weeks with big wins on others. ICYMI, check out the system’s Q2 2017 performance!