This mechanical system snagged fewer than usual signals this week, but did it catch any wins and close out positive? Time to find out!
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 just the one signal for the week, and here’s how it turned out:
Ack! Not exactly the big win I was hoping for! This pair wound up getting stopped out on its sole play and ended up wit a 14-pip loss.
Here’s what’s going on with Guppy:
This pair had three valid setups and zooming in to the short-term charts shows how these turned out:
GBP/JPY had a good start as it scored a 21-pip win on its long position. However, this was erased by the 22-pip loss that followed, before eventually made back by the last winning play. This brought the pair up 22 pips for the week.All in all, the Inside Bar Momentum Strategy was able to end up with a gain of 8 pips for the week. I know it’s not much, but I’m just happy this system was able to cap off three consecutive losing weeks. The percentage gain/loss depends on how position sizes were calculated.