This strategy caught two signals each for USD/JPY and GBP/JPY, and I’m seeing all green!
How many pips did it bag this week?
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 caught a valid short signal just before bearish momentum picked up during the first half of the week.
As you can probably tell from the chart above, the pair went straight for its profit target!
Price bottomed out midweek and pulled higher, eventually generating a long signal.After a few consolidation bars, USD/JPY also stepped on the gas and was able to reach its PT, scoring back-to-back gains for the week.
This allowed the pair to close out with a decent 44-pip win:
GBP/JPY was off to a running start as it generated a short signal just before the massive drop.
It took a few bars before the entry was triggered, but it sure paid off!
Guppy was able to bag 60 pips on this short trade alone. It did leave some pips on the table as the selloff carried on for another day after the position was closed, but I ain’t complanin’!
The pair pulled up from its drop and later on caught a valid long play. This managed to add a few more pips to the tally.
Here’s how the positions turned out:
Guppy closed out with a 94-pip gain, bringing the Inside Bar Momentum Strategy 2.0 up by 138 pips for the week.
That’s back-to-back winning weeks yo!
The percentage win/loss depends on how position sizes are calculated.
ICYMI, see how the numbers added up for Q2 2021.