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USD/JPY and GBP/JPY caught three valid signals each this week.

Did these positions catch big wins again?

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 started off with a couple of long positions in the middle of the ongoing uptrend.

USD/JPY 4-hour Forex Chart
USD/JPY 4-hour Forex Chart

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.

GBP/JPY 4-hour Forex Chart
GBP/JPY 4-hour Forex Chart

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.