All green for this mech system this week!
Take a look at the latest positions on USD/JPY and GBP/JPY to see how many pips it bagged.
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 a running start with bullish momentum strongly in play, but the pair surprisingly caught a valid short signal after a rally.
Price gapped higher but eventually edged down, just enough to get the position filled and hit the target.
The rally eventually resumed, allowing the pair to catch a long signal later on.This managed to jump in on the tail end of the climb, adding more pips to USD/JPY’s tally:
GBP/JPY had a long play left running from the earlier update, and this one was gaining upside traction until a new inside bar pattern formed.
With that, the bullish position had to be closed early, but it still bagged pretty decent gains!
The next inside bar signal also fared well, as the spike higher was enough to reach the target. Woot woot!
Guppy moved sideways for the rest of the week, forming inside bar patterns but not really getting any entries triggered.The pair wound up with a 46-pip gain for the week:
This brings the Inside Bar Momentum Strategy 2.0 up by 68 pips, racking up its FIFTH consecutive winning week!
The percentage win/loss depends on how position sizes are calculated.
ICYMI, see how the numbers added up for Q2 2021.