You win some, you lose some! This strategy had quite an even mix of gains and losses, but did it end up profitable overall?
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.
One win and one loss for USD/JPY! Fortunately, its winning long position was able to score a few more pips than what it gave up for the next one, ending up with a 10-pip gain for this pair. The percentage P/L depends on how position sizes were calculated.
And here are the inside bar signals for GBP/JPY:
I got a few more inside bar patterns than the actual opened positions marked on the chart, as some of these were not triggered or replaced by newer signals.
If this strategy ain’t your cup of tea or if you’re looking for one that might be more appropriate for current market conditions, you may wanna check these out, too:
SMA Crossover Pullback System
Short-Term Bollinger Reversion
HLHB Trend-Catcher System
Happy Hunter Trading System
Cowabunga System Daily Update