I’m seeing some bearish momentum on USD/JPY, but was this strategy able to pick up on it?
USD/JPY was moving lower throughout the week, but it only caught one valid short signal.Unfortunately the pair got caught up in choppy price action, as it dipped pretty close to the target but spiked higher to snag the stop loss.
Because of that, the pair lost 11 pips for the week:
Now here’s what went on with GBP/JPY:
This pair was consolidating early on, before it enjoyed some upside momentum then turned back down again.Still, GBP/JPY was able to generate two valid short signals just as in the previous week.
The first one was a short play that dipped close to its profit target but missed it by six pips. Instead, the short position wound up bouncing to the stop loss.
The second position came even closer to its target (2 pips!), but ended up missing it just the same. Bah!
Here’s how it all turned out:
With that, the Inside Bar Momentum Strategy lost 41 pips on Guppy, bringing the total to 52 pips in losses for the week.
The percentage win/loss depends on how position sizes are calculated.
ICYMI, see how the numbers added up for Q1 2021!