A bit of a slow week for this mechanical system as a handful of inside bar patterns didn’t snag enough momentum to trigger entries.
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 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.
First up, here are the signals on USD/JPY:
This pair didn’t actually have new signals these past few days, as the only position was from the other week and it had to be closed on a new inside bar pattern.
In fact, if you scan the chart above, you’ll probably see a few more inside bar formations whose entries had to be canceled on yet another inside bar pattern.
Here are the inside bar signals for GBP/JPY:Also a handful of inside bar patterns but no valid signals! Bah!
With that, the Inside Bar Momentum Strategy sulked off with a 10-pip loss for the week, and the percentage gain depends on how position sizes were calculated.