The winning streak continues! This mech system bagged another set of gains on both USD/JPY and GBP/JPY this week.
USD/JPY had a bunch of inside bar patterns throughout the week, but only a couple had their entries triggered.The first long position had some bullish momentum going for it, but it wasn’t enough to hit the profit target. In fact, price just missed it by a pip!
The next inside bar pattern led to an early exit (for a small gain) and another long position.
This one managed to hit its full profit target, but the win wasn’t all that big either. Here’s how it all turned out:
Now here’s what went on with GBP/JPY:This pair had three valid signals for the week, the first two being long positions and the last one a short play.
Both long positions were able to bag gains while the short position hit its stop loss on a spike higher before bearish momentum picked up.
Here’s what happened:
With that, the Inside Bar Momentum Strategy ended the week with a decent 58-pip win.
The percentage win/loss depends on how position sizes are calculated.
See how the numbers added up for Q4 2020!