Another rough week for Guppy but USD/JPY snagged a couple of wins! Here are the latest positions taken through the Inside Bar Momentum Strategy.
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:
Zooming in to the short-term time frames helped me check if the signals were triggered and if any stops or targets were hit.
Two out of three for this pair after last week’s four out of five? Not too shabby! The latest positions generated a total of 22 pips, and the percentage gain depends on how position sizes were calculated.
And here are the inside bar signals for GBP/JPY:
And here’s how these positions turned out:
All in all, the system lost 76 pips so far this October, which isn’t exactly the strong start I hoped for this Q4. Pound price action has been all over the place as the currency is extra sensitive to Brexit updates lately and might continue to stay such until the end of the year.
USD/JPY price action has chopped back and forth also, but it looks like the pair is able to stay in positions for a bit longer instead of triggering stops almost instantly.
Still, I’m positive that this mech strategy could pull off a better week (or weeks!) in this last stretch of 2017 as it has shown a history of making up for tiny losses with big wins eventually. ICYMI, check out this system’s performance for Q3 2017.