This strategy saw a bunch of inside bar patterns but only three valid signals were triggered for the week. See how these positions turned out!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 a few inside bar patterns early in the week, but it wasn’t able to open a position on a valid signal until the middle.
Fortunately, this was enough to make it all the way down to the profit target without hitting any snags!
Here’s how the sole position on USD/JPY fared:
With that, USD/JPY was able to walk away with a 23-pip gain for the week.
Now here’s what went on with Guppy:
This pair managed to catch two valid signals for the week again while other inside bars didn’t have their entries triggered or were canceled out by new patterns.
Here’s how the opened positions turned out:
Unlike in the previous week, the pair was unable to catch back-to-back wins this time.The first play bagged 7 pips as it had to be closed when a new inside bar pattern formed.
The next one lost 61 pips even as the pair did gain downside traction after the short position was opened. Unfortunately, price didn’t dip low enough to hit the target, forcing it to return all those gains and eventually hit the stop.
All in all, the Inside Bar Momentum Strategy lost 31 pips for the week. Ouch!
The percentage win/loss depends on how position sizes are calculated.