It was still a bit of a slow week for this mech system, although it managed to catch some wins on both USD/JPY and GBP/JPY. Take a look!
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 on both USD/JPY and GBP/JPY.
The size of the stop loss was adjusted from the original 20% of the first candlestick to 40% of its length.
First up, here’s what went on with USD/JPY:
This pair had one valid signal for the week, and here’s how it turned out:
USD/JPY was range-bound for the most part of the week before a downside break occurred later on. However, the valid signal popped up earlier on and was able to bag 117 pips for the pair.
Here’s what went down with GBP/JPY:
This pair caught had four valid plays for the week, and here’s what happened:
Guppy was off to a rough start as its first play was stopped out for a small loss on a new inside bar pattern, followed by a larger loss on another short position.
Fortunately the next valid signal turned out to be profitable, but most of the gains were still erased by the last short position. With that, the pair closed the week with a 58-pip loss.
With that, the Inside Bar Momentum Strategy is closing off with a 59-pip gain for the week, much lower than the earlier week’s wins but still a decent run.
The percentage win/loss depends on how position sizes are calculated.