After a shaky performance the other week, was this mechanical system able to make a comeback? Time to look at the latest plays!
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 valid signals on USD/JPY:
This pair had three valid plays during the week, and zooming in to the short-term time frames reveals which exit levels were hit.
Ack! All red for USD/JPY! These losses amounted to a 26-pip dent for the pair.
Here’s what’s going on with Guppy:
This pair also had three valid plays, and here’s how these turned out:
GBP/JPY had a good start as it scored a 25-pip win on its long position. However, this was followed by back-to-back stopped out plays, ultimately resulting in a 14-pip dent for the pair.This brings the Inside Bar Momentum Strategy down by 40 pips for the week, adding up to the past couple of weeks’ losses. The percentage gain/loss depends on how position sizes were calculated.