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Just a few signals on this mechanical trading system for the week! Did these turn out profitable or not? Here’s a quick update.

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

After a signal-free week last time, USD/JPY was able to catch a couple of signals. The first one had to be closed early on a new inside bar formation, though, and unfortunately both ended up in the red.

Now here’s what happened on Guppy:

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

Just the one position for this pair! Zooming in to the short-term charts shows if entries or exits were hit:

Not a good turnout either, eh? The pair hit its stop on a quick pullback before gaining more upside traction that could’ve made it to the full target.

With that, the Inside Bar Momentum strategy snagged a 35-pip loss for Guppy and a 15-pip loss for USD/JPY, for a total of 50 pips in losses for the week. 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!