This mechanical trading system had some hits and misses for the past few days, but did it end up positive overall? Take a look!
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 short signal left pending from the other week was triggered, but unfortunately this hit the stop loss. It was followed by another position that had to be closed early at breakeven when a new inside bar pattern formed.
Another short position hit the stop soon after, but the last one managed to snag a 17-pip win. All in all, the pair ended up with an 8-pip loss for the week, and the percentage P/L depends on how position sizes were calculated.
And here are the inside bar signals for GBP/JPY:
The short signal from the earlier week wasn’t triggered, leaving just one position for Guppy this time.
In total, the Inside Bar Momentum Strategy wound up with a 16-pip gain for the week, which ain’t so bad. But 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