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This trading strategy had a mixed run as it caught wins and losses on both pairs I’m watching. See how the numbers added up!

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.

USD/JPY was off to a rough start as its long position left open from the earlier update missed the profit target by a hairline. Price fell a couple of pips short of scoring a full win, backpedaling on the climb and hitting the stop instead.

USD/JPY 1-hour Forex Chart
USD/JPY 1-hour Forex Chart

Fortunately the next couple of positions turned out to be winners, making up for the initial loss.

With that, USD/JPY managed to end the week with a neat 18-pip gain.

Now here’s what went on with Guppy:

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

The pair also caught three valid plays for the week, with the first one bagging a nice 52-pip gain.

However, the second long position suffered the same fate as that of USD/JPY’s almost-win, coming close to the profit target but falling short and hitting the stop instead.

The last play is still open for now. Here’s how it’s looking:

The losing position cost 52 pips for GBP/JPY, bringing the pair down by one pip for the week. Not too bad, I guess!

All in all, the Inside Bar Momentum Strategy managed to end up with a 17-pip win. Keep in mind that the percentage win/loss depends on how position sizes are calculated.

ICYMI, check out how the Inside Bar Momentum Strategy fared for Q2 2020 and how other mech systems are stacking up in Forex Ninja’s Systems Showcase!