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It’s another week in the green, fellas!

This mech system managed to catch only a couple of signals per pair, but it had a pretty good run.

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 had two valid signals for the week.

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

The first one was a bullish play that gained just enough upside momentum to hit its target before reversing. Phew!

The next one was a bearish position that unfortunately snagged its stop loss before the selloff could pick up steam.

Good thing the win was slightly larger than the loss, leaving USD/JPY with 2 measly pips for the week:

GBP/JPY also had two valid signals for the week.

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

The first position was a long play that was able to catch quite a decent number of pips.

The second one is a short play that’s still open for now, as price dipped close to the target but continues to move sideways.

This brings the Inside Bar Momentum Strategy 2.0 up by 33 pips for the week.

The percentage win/loss depends on how position sizes are calculated.

ICYMI, see how the numbers added up for Q2 2021.