You win some, you lose some! One pair fared slightly better than the other with this strategy lately. See how many gains it racked up.
The size of the stop loss was adjusted from the original 20% of the first candlestick to 40% of its length.
USD/JPY moved mostly sideways early in the week but it managed to catch a couple of valid plays during consolidation.Unfortunately, these churned out losses as price hit the stops before even gaining enough momentum to move in the trade’s favor.
With that, USD/JPY ended up with a 25-pip loss for the week.
Now here’s what went on with Guppy:The pair had a short position left open in the earlier update, and this had to be closed when a new inside bar pattern formed. Thank goodness it locked in some gains, though!
The next play turned out to be a winner as it bagged 67 pips when bearish momentum picked up. Unfortunately, the next couple of positions snagged losses as the pair also hit the stops before moving in the trade’s favor.
Here’s what happened:
This means that the Inside Bar Momentum Strategy closed out with a measly 1-pip gain for the week. The percentage win/loss depends on how position sizes are calculated.
ICYMI, check out how the Inside Bar Momentum Strategy fared for Q2 2020!