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USD/JPY had no new signals for the week while GBP/JPY scored one win and one loss. Did the system end up positive overall?

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

As you can probably tell from the chart above, the pair did form several inside bar patterns but none of these got their entries triggered.

Bullish inside bar formations were followed by a selloff while bearish ones saw rallies soon after, as price action was range-bound for the most part.

Now here’s what went on with Guppy:

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

This pair did much better, at least in terms of catching valid plays, as it snagged one long and one short position.

The first signal didn’t turn out so well, though, as it was stopped out before bulls were able to charge.

Luckily, the second play turned out to be a win and was able to make up for the previous loss.

Here’s how it turned out:

The long position resulted in a 16-pip dent while the short play bagged 44 pips in gains, leaving Guppy (and the mech system) up by 28 pips for the week.

I know it ain’t much, but it still adds to the earlier set of wins!

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!