October 29, 2021

Mech System Update: Inside Bar Momentum Strategy 2.0 (Oct. 22 – 28)

 This mech system caught a handful of valid signals on both USD/JPY and GBP/JPY, scoring wins on most of them.

See how many pips it racked up!

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 one signal after another around the middle of the week, as the pair had a bit of a rally.

The first play enjoyed some bullish momentum but had to be closed early for a small gain when a new inside bar pattern formed.

This turned out to be another valid long play, which then scored a pretty decent gain when it reached the PT.

Unfortunately the next signal that followed had a tight stop that was snagged before selling momentum picked up.

GBP/JPY had two valid signals for the week, with the first one catching some upside momentum and the second attempting to hop in on the selloff.

The long position was able to bag a pretty good win, as the pair surged higher after the entry was triggered.

The short play, on the other hand, got stopped out before bearish pressure even came in play.

This brings the Inside Bar Momentum Strategy 2.0 up by 31 pips for the week, adding to last week’s gains.

That’s its fourth consecutive winning week yo!

The percentage win/loss depends on how position sizes are calculated.

ICYMI, see how the numbers added up for Q3 2021.