It’s a red week for this one!
Both pairs gave in to choppy price action, which led to all positions getting stopped 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 three valid signals for the week, with the first one being a short play.
This did not gain much downside traction, as price quickly hit its stop loss on the pullback.
The next position, which was a bullish play, got stopped out on that spike lower before USD/JPY could even start to rally.
It’s just too bad that it would’ve hit its profit target on that big move!
The last signal also did not fare well, even though bullish momentum picked up. The pair fell short of its PT by 6 pips before retreating and hitting the stop.
This brings USD/JPY down by 47 pips for the week, ending its winning streak.
GBP/JPY was trending higher for the most part of the week, but it only caught one valid signal and it was a short play.
GBP/JPY 4-hour Forex ChartGBP/JPY 4-hour Forex Chart
As you’ve probably guessed, it didn’t stay open for very long before price reversed and hit the stop.
A few more inside bar patterns formed during the consolidation midweek, but none of the entries were filled.
This leaves Guppy down by 22 pips.
This brings the Inside Bar Momentum Strategy 2.0 down by 69 pips for the week.
That caps off the system’s seven-week winning streak, but I’m still keeping my robot fingers crossed that it makes up for it later on.
Can’t win ’em all, right?
The percentage win/loss depends on how position sizes are calculated.
