Even with a couple of snags, this forex mechanical system was able to chalk up another week in the green. Woot woot!
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 just the one inside bar signal for USD/JPY:
Zooming in to the short-term time frames helped me check if these were triggered and if any stops or targets were hit.
Even though a couple of positions turned out losers, the 30-pip gain for the winning short play kept this pair up 2 pips for the week, and the percentage gain depends on how position sizes were calculated.
And here are the inside bar signals for GBP/JPY:
The pair had three signals for the week, and here’s how these turned out:really solid streak lately, making up for its funk earlier on. This time it was able to make a total of 31 pips in gains.
These amounted to a 33-pip overall win for both pairs, adding to last week’s set of gains.
That caps off another winning week for the Inside Bar Momentum strategy, keeping it in the running for a positive Q4. ICYMI, check out this system’s performance for Q3 2017!