Got fewer than usual signals for this particular forex strategy this week, but that’s not necessarily a bad thing. Read on to see what I mean!
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 three inside bar signals for USD/JPY in the past few days:
Zooming in to the short-term time frames helped me check if the signals were triggered and if any stops or targets were hit.
Three for three on USD/JPY! Even though the first short position had to be closed on a new inside bar formation, it still managed to lock in a few pips.
For this pair, the system was able to snag a total of 85 pips for the past week. Of course the percentage loss depends on how position sizes were calculated.
And here are the inside bar signals for GBP/JPY:Nope, nada. Although a handful of inside bar candlestick patterns formed, price didn’t show any continuation for the previous moves so none of those yielded open positions.
I’m counting on additional volatility to kick in this month as the summer season is over and trends could gain more traction. Both the dollar and yen have been jumpier than usual as risk appetite has flipped on and off, not to mention additional driving factors like monetary policy biases and the usual White House drama all coming into play.
It looks like September is off to a pretty solid start for the trading system and might allow it to close the quarter out with another set of big wins. ICYMI, check out the system’s Q2 2017 performance.