This mech system caught a handful of valid signals over the last couple of weeks.
Did it start this quarter off on a strong note?
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 off to an early start, as bearish momentum was pretty strong in the first week of July.
A couple of valid short signals popped up in the middle of the selloff, allowing the pair to profit from the drop as both positions hit their targets.
Price bottomed out and pulled up from its slide later on, catching a long signal during the climb.Unfortunately, this position got stopped out on a pullback before bullish momentum eventually took price to the target. Ouch!
Still, USD/JPY was able to finish with a 24-pip gain, thanks to its earlier wins.
GBP/JPY started off in consolidation mode and was able to catch only two valid plays.
The first position was a short play that snagged its SL on a quick bounce before selling pressure picked up.
The next position managed to reach the full profit target as bearish momentum accelerated then.Here’s how the positions turned out:
Guppy closed out with a 39-pip gain, as its winning position was much larger than its losing one.
With that, the Inside Bar Momentum Strategy 2.0 ended up with a 63-pip gain for the week.
The percentage win/loss depends on how position sizes are calculated.
With that, the Inside Bar Momentum Strategy 2.0 was able to cap off Q2 2021 with another positive week!
I’ll be crunching the numbers for the quarter in a bit but, ICYMI, see how the numbers added up for Q1 2021.