One pair caught a couple of winning trades on this strategy while the other snagged a loss. Here’s the tally for the week.
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 had a bunch of inside bar patterns throughout the week, but only one had its entry triggered.
The pair had a valid short signal, but unfortunately price spiked up to hit its stop during the consolidation that followed.
Because of that, USD/JPY wound up with a 16-pip loss on its sole position:
Now here’s what went on with GBP/JPY:
The first one was a short position that caught enough downside momentum to hit the target. The second one was a long play that also snagged a win before a reversal took place. Woot woot!
These allowed Guppy to close out with a 40-pip win:
With that, the Inside Bar Momentum Strategy was able to follow through on the previous week’s gains with a meager 24-pip win.
The percentage win/loss depends on how position sizes are calculated.
See how the numbers added up for Q4 2020!