This strategy caught its usual handful of signals for the week, but did it extend its winning streak?
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 looked like it was moving sideways for the week, but it still managed to catch a short and long signal.
Both signals popped up right before big continuation moves, catching back-to-back gains for the pair.
With that, USD/JPY locked in a total of 20 pips for the week.
GBP/JPY sold off early in the week and was able to catch a valid bearish signal then.
This turned out well, as the position was able to stay open even with the quick pullback. The selloff resumed and hit the pair’s profit target.
The pair bottomed out around the middle of the week, and the strategy picked up on a bullish signal soon after.
However, this had to be closed early for a small loss when another inside bar pattern formed.
This generated yet another long position, and this one is still open (and in the black!) for now.
Guppy ended up with a neat 30-pip gain.
This brings the Inside Bar Momentum Strategy 2.0 up by 50 pips for the week, slightly lower than the earlier gains but a win nonetheless.
That’s its fourth consecutive winning week yo!
The percentage win/loss depends on how position sizes are calculated.
