This mechanical system was able to catch a handful of signals for the week, but it only scored one win.
Did it still end up positive overall?
USD/JPY had a couple of inside bar patterns that had their entries triggered.The first one was a long position which snagged its stop before bullish momentum picked up.
The second one was a short play that fared much better, but the gains were not enough to make up for the earlier loss.
Here’s how it turned out:
Now here’s what went on with GBP/JPY:This pair also had a couple of valid inside bar signals for the week.
The first one was a short position that enjoyed some downside momentum, but it wasn’t enough to take price all the way down to the profit target.
The second signal is a long position that’s still open and in the black for now.
Here’s how it’s looking:
With that, the Inside Bar Momentum Strategy is back in the negative zone with a 7-pip loss on USD/JPY and a 44-pip dent on GBP/JPY, amounting to a total of 51 pips in losses for the week.
The percentage win/loss depends on how position sizes are calculated.
See how the numbers added up for Q4 2020!