Both GBP/JPY and USD/JPY saw strong bearish momentum early in the week, but this strategy caught only one signal per pair.
How did these turn out?
USD/JPY staged a sharp selloff early in the week, but this momentum system was unable to pick up any valid short signals then.
The pair went on to trade sideways for the most part of the week, but it did catch a short play in the middle of it all.While USD/JPY edged slightly lower afterwards, it did not dip low enough to hit the profit target.
Instead, price bounced right back up to trigger the stop loss for a 36-pip loss.
GBP/JPY also sold off early in the week, but there were no inside bar patterns that formed then.
Price carried on with a slow and steady decline throughout the week, allowing the system to catch a valid short signal.
Unfortunately, just like the other pair, Guppy also wound up getting stopped out on a spike higher before price eventually dipped to the PT.
That’s a 50-pip loss for this pair this week. Ouch!
The percentage win/loss depends on how position sizes are calculated.
ICYMI, see how the numbers added up for Q3 2021.