This strategy caught more than its usual share of signals for both pairs over the past few days, but did these positions fare well? Time to find 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 signals 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.
The first short position turned out well as it hit the full profit target, but the next couple of ones ended in the red with small losses. All in all, the pair managed to escape with a 14-pip win, and the percentage gain depends on how position sizes were calculated.
And here are the inside bar signals for GBP/JPY:
A few more inside bar patterns were actually formed in addition to the ones marked on the chart above, but only the ones below were triggered.
Winner winner, chicken dinner! All the positions opened for Guppy churned out gains, even with early exit signals on new inside bar patterns. In total, these amounted to 147 pips in winnings.To sum up, that’s a gain of 161 pips for both pairs on the Inside Bar Momentum Strategy, possibly one of its best weeks yet. Looks like my happy thoughts from the previous week are starting to pay out!