Mech System Update: Inside Bar Momentum Strategy 2.0 (Nov. 20 – 26)

It was a bit of a slow week for this mech system as it caught only one valid signal. How did this one turn out?

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 mostly in consolidation throughout the week, with the exception of a sharp rally in the middle.

The pair formed a few inside bar patterns in between, but none of the entry levels were triggered to open fresh positions.

Now here’s what went on with GBP/JPY:

This pair also started the week off in consolidation mode before eventually staging a more steady climb.

A long signal popped up early on in the uptrend, but it only scored a few pips and left a lot of gains on the table. Still, a win is a win!

Here’s how it turned out:

With that, the Inside Bar Momentum strategy was able to bag 26 pips for the week. The percentage win/loss depends on how position sizes are calculated.

See how the numbers added up for Q3 2020!