One pair did quite well for this particular strategy while the other took some hits, but did the Inside Bar Momenum Strategy end up positive overall? Check out the latest positions!
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.
Winner winner, chicken dinner! And not a stopped out position in sight!
USD/JPY did snag a loss when the second long position had to be closed on a new inside bar formation, but it more than made up for it with three consecutive full wins.
This amounts to a 86-pip win for USD/JPY, and the percentage P/L depends on how position sizes were calculated.
And here are the inside bar signals for GBP/JPY:
Four valid signals for this one, but most of those ended in the red, save for the short position that was closed for a 10-pip gain on a new inside bar early exit signal.
This amounted to a 78-pip loss for the strategy, effectively bringing the total for both pairs down to just a measly 8 pips. Bah!But hey, a positive week is a positive week… so I will take it! Think the system can beat its results for Q4 2017, though?
If this strategy ain’t your cup of tea, you might wanna check out these other ones instead:
SMA Crossover Pullback System
Short-Term Bollinger Reversion
HLHB Trend-Catcher System
Happy Hunter Trading System
Cowabunga System Daily Update