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!
If this is the first time you’re reading about this forex 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 was followed by few days’ worth of consolidation again before the pair managed to catch a valid long play. This one fared much better as it hit the target just prior to that sudden reversal.
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:
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.
ICYMI, check out how the Inside Bar Momentum Strategy fared for Q1 2020 and how other mech systems are stacking up in Forex Ninja’s Systems Showcase!