USD/JPY and GBP/JPY caught three valid signals each this week.
Did these positions catch big wins again?
USD/JPY started off with a couple of long positions in the middle of the ongoing uptrend.
The first position turned out to be a winner, as the pair eventually climbed to the profit target after a bit of consolidation.The next long position didn’t fare so well since price simply consolidated and dipped to the stop loss, which happened to be pretty tight.
The next signal was a short play that didn’t really enjoy much bearish momentum before USD/JPY surged higher.
Thanks to the first win, though, the pair managed to scrape by with a teensy 3-pip win for the week:
GBP/JPY also caught three valid signals.
The first one was a short position that was able to take advantage of some bearish momentum but had to be closed (for a small gain) on a new inside bar pattern.
The next signal was also a short play that managed to hit its profit target before price reversed course. Phew!
Unfortunately, the last position was a long play that fell short of its target then wound up getting stopped out.
Here’s how it all turned out:
Guppy lost its earlier gains to the last losing position, resulting in a 3-pip dent for the pair and a breakeven week for the Inside Bar Momentum System. Bah!
The percentage win/loss depends on how position sizes are calculated.
ICYMI, see how the numbers added up for Q1 2021.