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Guppy caught three winning trades for the week, making up for the tiny dent on USD/JPY. Take a look at the latest plays!

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:

USD/JPY 4-hour Forex Chart
USD/JPY 4-hour Forex Chart

The pair caught a couple of valid positions early in the week, with the first one gaining enough bullish momentum to hit its full target.

Another long play followed, but sadly the climb came just a few pips short of hitting the profit target before quickly reversing.

Unfortunately, this meant that USD/JPY returned all those pips and more when it hit the stop loss. Here’s how it all turned out:

The losing position erased the earlier gains, leaving the pair with a 1-pip loss for the week.

Now here’s what went on with Guppy:

GBP/JPY 4-hour Forex Chart
GBP/JPY 4-hour Forex Chart

This pair was off to a running start as it caught a short signal early on.

This was followed by a selloff that was strong enough to reach the profit target and bag 47 pips.

From there, a long signal popped up at the bottom of the drop. The candles were pretty small, though, so the target was just within striking distance of 24 pips.

Another long position was opened a few bars later, and this one scored a bigger win. Here’s how the numbers are looking:

With that, the Inside Bar Momentum strategy wound up with a pretty decent 116-pip win on Guppy or a 115-pip gain overall.

The percentage win/loss depends on how position sizes are calculated. Gonna start crunching the numbers for Q2 soon!

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!