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It’s another mixed run for this mechanical trading strategy as one pair snagged a decent win while the other chalked up a couple of losses.

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, check out the valid signals on USD/JPY:

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

This pair had just the one valid inside bar pattern whose entry order got filled. Here’s how it turned out:

Woot woot! It’s a win for USD/JPY! The pair hit its target fairly quickly as bullish momentum picked up after the position was opened.

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

A couple of valid signals for this one! Zooming in to the short-term time frames shows whether or not the entry or exit levels were hit.

Unlike last week’s performance, this pair caught back-to-back losses as momentum didn’t work in favor of the valid signals. With that, the system is down 106 pips for the week. The percentage gain/loss depends on how position sizes were calculated.

ICYMI, check out how the Inside Bar Momentum Strategy fared for Q4 2018 and how other mech systems are stacking up in Forex Ninja’s Systems Showcase!