This strategy caught fewer than usual signals for this week, but did it manage to chalk up gains?
Read on to find out!
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 only one valid signal for the week, as the pair was mostly stuck in consolidation or choppy price action.
It didn’t help that USD/JPY came pretty close to its target but missed it by six pips!
Instead, price slid back to hit its stop loss, resulting in a 24-pip dent for the pair:
Now here’s what went on with GBP/JPY:
This pair had a couple of valid signals, both of which were short plays.
The first one picked up on a very strong bearish vibe right away, hitting its target in just a few bars.The next short play was followed by a bit of consolidation before selling pressure picked up, eventually taking price down to the PT before buyers took over.
Thanks to these winning positions, Guppy was able to bag a total of 72 pips:
With that, the Inside Bar Momentum Strategy was able to lock in a total of 48 pips for the week, adding to earlier gains.
The percentage win/loss depends on how position sizes are calculated.
ICYMI, see how the numbers added up for Q1 2021!