I’ve got a whole bunch of valid signals on 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.
Ack, it’s a double whammy on this one! The first two positions both hit their stops while the last one’s still open.
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:
Mixed results for this one as three out of the seven opened positions turned out losers. It’s also worth noting that the new inside bar early exit signal helped trim the losses or even lock in some gains.In a nutshell, this probably turned out more or less a breakeven week for the Inside Bar Momentum Strategy 2.0 as the larger wins erased some of the losses, but of course this also depends on how you calculate the position sizes per trade.
The consolidation on Guppy leading up to this week’s highly-anticipated BOE decision led to the formation of a lot of inside bar patterns that were quickly closed on new formations. But now that the U.K. central bank had its say, I think we might see stronger bearish trends for the pound at least for the next few weeks.
As before, 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!