Guppy scored consecutive wins while USD/JPY had a rough run for the week.
How did the system end up overall?
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 was trending lower for most of the week, catching two valid inside bar short signals then.
With that, USD/JPY was able to lock in a total of 58 pips in wins for the week:
Now here’s what went on with GBP/JPY:
This pair had a short position left open from the earlier update, and unfortunately it didn’t fare well.
The next positions were also short plays, but some were stopped out too early before bearish momentum took hold while others didn’t dip low enough to hit profit targets.The last play was a long position that managed to hit its target, but the gain was not enough to make up for the earlier losses.
Here’s how it turned out:
With that, the Inside Bar Momentum Strategy stayed in the red zone, snagging a 100-pip dent on Guppy that brought it down 42 pips for the week.
The percentage win/loss depends on how position sizes are calculated.
See how the numbers added up for Q4 2020!