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A bit of a shaky start for USD/JPY but this system finally caught a few good runs, including a back-to-back win on Guppy!

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.

Here are the valid signals on USD/JPY:

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

As in the previous week, there were a few more inside bar patterns but only three were able to hit their entry levels. Here’s how those valid signals turned out:

The first position came close to hitting its target but came up short and formed a new inside bar to trigger an early exit. Fortunately the next one hit its full target but the last signal was stopped out, netting a 2-pip loss for the pair.

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

This one snagged a couple of valid plays and was able to hit full profit targets on both!

Thanks to back-to-back wins on Guppy, the system was able to catch a 61-pip gain 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 Showcase!