I’ve got another handful of valid signals on USD/JPY and GBP/JPY using the Inside Bar Momentum Strategy 2.0 last week, and I’m seeing more wins than losses.
But if this is the first time you’re reading about this strategy, I suggest you take a look at the system rules before reading on.
Also, this tweaked version makes use of an adjusted stop loss size (from the original 20% of the first candlestick to 40% of its length) on both USD/JPY and GBP/JPY.
The system generated these inside bar signals for USD/JPY in the past few days:
Zooming in to the short-term time frames helped me check if this signal was triggered and if any stops or targets were hit.
The first position, which was the one left open from the previous week, had to be closed on a new inside bar formation for a small gain. The next one was able to hit its full PT while the last one got stopped out, netting 14 pips in gains for the period.
And here are the inside bar signals for GBP/JPY:
Just a couple of valid signals for Guppy and here’s how these turned out:
Two out of the three positions hit their targets! This amounts to a 26-pip gain for the pair. Of course the percentage profit/loss depends on how position sizes were calculated.I’d say this was one of the better weeks for the Inside Bar Momentum strategy since it caught more wins than losses and the pip totals were also positive.
I’m also seeing some bearish momentum on both yen pairs in the past few days as risk aversion has been persistent. This has been mostly due to the escalating tension with North Korea, as well as weakening odds of a Fed rate hike in September.
As before, I’m not losing hope on this one since it has shown a pretty good record of making up for its losing weeks with big wins on others. ICYMI, check out the system’s Q2 2017 performance!