This strategy caught a fair amount of valid plays on both pairs I’m watching, but one performed much better than the other again. Take a look!
USD/JPY caught a couple of inside bar patterns that had its entries triggered.As in the previous update, both signals had momentum going for them, but the stops were just too tight. These wound up getting hit before the pair could even make it to the targets.
With that, USD/JPY wound up with a 27-pip loss for the week:
Now here’s what went on with GBP/JPY:This pair caught three valid signals, and two of these chalked up gains.
As you can observe from the chart above, bearish momentum was very much in favor of the first couple of plays.
Bullish momentum would’ve also worked out for the last signal, but the stop was pretty tight that it got triggered on a quick pullback.
Here’s how it turned out:
This brings Inside Bar Momentum Strategy up by another 9 pips this week… still not a lot, but at least it ain’t a loss!
The percentage win/loss depends on how position sizes are calculated.
See how the numbers added up for Q3 2020!