Partner Center Find a Broker

No new signals on USD/JPY but Guppy managed to snag a couple. The question is, did these positions end up positive 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 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:

USD/JPY 4-hour Forex Chart
USD/JPY 4-hour Forex Chart

Nope, nada, zilch! A handful of inside bar patterns actually popped up, but none of these had their entry levels triggered, leaving this pair with no new positions for the week.

Now here are the signals on Guppy:

GBP/JPY 4-hour Forex Chart
GBP/JPY 4-hour Forex Chart

Just a couple of positions on this one, and zooming in to the short-term charts shows if entries or exits were hit:

One win, one loss for GBP/JPY! The first position showed enough momentum to make it all the way down to the full target while the second one almost scored a win but returned all these as momentum faded.

Now that I think about it, this position could’ve scored a few pips if I had a trailing stop strategy, on top of the early exit rules on new inside bar patterns. What do you guys think?

Anyway, the Inside Bar Momentum strategy still managed to bag 28 pips for the week since Guppy’s first position scored a bigger win than its loss. The percentage gain depends on how position sizes were calculated.

ICYMI, check out how the Inside Bar Momentum Strategy fared for Q3 2018 and how other mech systems are stacking up in Forex Ninja’s Systems Showdown!