Both pairs I’m watching enjoyed additional volatility during the latter part of the week, but did this result to more gains or more losses? Take a look!
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:Even with choppy price action early in the week, this pair caught a valid short signal then. Unfortunately the position wasn’t able to stay open to ride that sharp break lower, as it quickly hit its stop on a spike higher.
Before the end of the week, USD/JPY snagged another long position. Here’s how it all turned out:
The pair chalked up two losses and just one tiny win, yielding a 30-pip loss overall.
Now here’s what went on with Guppy:This pair was off to a running start as it caught a short signal early on.
It took a few bars before the entry was triggered by that long bearish candle, but the position had to be closed early when another inside bar pattern formed.
Luckily, this early exit was able to bag 16 pips for GBP/JPY. Otherwise, the position would’ve missed its profit target by a few pips before reversing and erasing all the gains.
The percentage win/loss depends on how position sizes are calculated.