Did this strategy carry on with its winning streak for the sixth week in a row?
Check out these latest signals 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 caught a couple of valid inside bar signals during the selloff in the first half of the week.
The first position was a short play that unfortunately got stopped out on a pullback before bearish momentum picked up again.
The second play fared much better since it was able to stay open until price tumbled to the profit target.This win made up for earlier losses, allowing USD/JPY to end the week with a 15-pip gain:
GBP/JPY enjoyed strong bearish momentum early in the week then caught a valid short play.
However, this was opened just before the pair started consolidating, so the position wound up getting stopped out instead. Bah!
A bunch of other inside bar patterns formed throughout the rest of the week, but none of these had their entries triggered.With that, Guppy wound up with a 46-pip dent for the week:
This brings the Inside Bar Momentum Strategy 2.0 down by 31 pips for the week, erasing some of the earlier gains.
And that caps off the system’s impressive winning streak, too! Hopefully it recovers next week, though.
The percentage win/loss depends on how position sizes are calculated.
ICYMI, see how the numbers added up for Q3 2021.