One pair fared much better than the other under this mechanical trading system for the past week. Here’s how it all went down.
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’s what went on with USD/JPY:
This pair had a position left open from the previous week, and this had to be closed on a new inside bar formation for a small gain.
Three more valid plays followed, but all these got stopped out. Ouch!
Fortunately the losses weren’t too big, yielding an 8-pip dent for USD/JPY.
Here’s what went down with GBP/JPY:
This pair had three valid signals for the week, and here’s how the positions turned out:
With that, the Inside Bar Momentum Strategy is up 51 pips for the week. The percentage win/loss depends on how position sizes are calculated.