The Inside Bar Momentum Strategy 2.0 is on a roll! Even with a bit of choppy price action, all its positions for USD/JPY and GBP/JPY turned out winners in the past week.
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 two 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.
Woot woot! The first position hit its profit target fairly quickly while the second one took a bit longer but turned out a win just the same. These amounted to a 57-pip win and the percentage gain depends on how position sizes were calculated.
And here are the inside bar signals for GBP/JPY:
Guppy formed a couple more inside bar patterns than highlighted on the chart above, but I’ve only marked the one that got opened.
All in all, the system still snagged 54 pips for the period for both pairs, which adds to the previous week’s gains. And now that it’s almost the end of the week, month, and quarter, I’m gonna head back to my pod to crunch the numbers on this strategy and the SMA Crossover Pullback system. Stay tuned!