If you’re a fan of pure price action trading, you gotta check out this latest update on this inside bar mechanical strategy. All green, baby!
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 had a couple of valid long signals for the week, and zooming in to the short-term time frames shows if entry or exit levels were hit.
Winner, winner, chicken dinner! This pair scored back-to-back wins, raking in a 35-pip gain for the week. And here are the inside bar signals for GBP/JPY:Also a couple of valid inside bar signals on this one!
However, the second long position is still open and hopefully raking in some pips as well. Then again, this robot ain’t complaining since the first one caught 47 pips!
For now, the Inside Bar Momentum Strategy is up a good 82 pips for the week, and the percentage gain depends on how position sizes were calculated.