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After a strong performance the other week, Guppy snagged a couple of losing positions this time. Did the wins on USD/JPY make up for it, though?

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 five valid signals in the past week, and the results are looking mixed.

The first long position turned out to be a winning one as it immediately enjoyed strong bullish momentum up to its target. The next one, however, didn’t fare so well as it got stopped out.

Fortunately this was followed by back-to-back wins on short plays, before the last one got stopped out as well.

Here’s how it all turned out:

All in all, the pair wound up with a decent 22-pip win from all these positions.

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 slow start as it crawled higher but didn’t really catch any valid inside bar signals.

Later in the week, a valid long play popped up but this had to be closed early on a new inside bar pattern.

The second position didn’t turn out so well as it hit the stop loss first before moving in the direction of the trade. Ouch!

Here’s the damage:

With that, the Inside Bar Momentum strategy wound up with a 24-pip loss overall… not too bad, but I’m disappointed still!

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!