Both USD/JPY and GBP/JPY caught two valid signals for the week, and most of these ended up with wins. Take a look!
If this is the first time you’re reading about this forex strategy, I suggest you take a look at the system rules before reading on.
Also, this version makes use of an adjusted stop loss size on both USD/JPY and GBP/JPY.
The size of the stop loss was adjusted from the original 20% of the first candlestick to 40% of its length.
USD/JPY had a bunch of inside bar patterns throughout the week, but only a couple had their entries triggered.
The next one was a long position that almost immediately reached its profit target, scoring back-to-back wins for the pair.
With that, USD/JPY bagged 35 pips for the week:
Now here’s what went on with GBP/JPY:
The first one didn’t fare so well, as price dipped to snag the stop loss before buying pressure picked up.
Fortunately the next play was able to take advantage of bullish momentum and reach the profit target, making up for earlier losses.
Guppy managed to close out with a meager 4-pip gain, but at least it’s not a loss!
With that, the Inside Bar Momentum Strategy chalked up yet another winning week with a 31-pip win this time.
The percentage win/loss depends on how position sizes are calculated.
See how the numbers added up for Q4 2020!