It’s all green for USD/JPY this week while GBP/JPY bagged more wins than losses.
See how all these positions added 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 was able to hop in a long position when an inside bar formed right at the start of an uptrend.
Price quickly booked profits on its long position since the PT was just close by. Too bad it wasn’t able to stay in the trend for much longer, but a win is a win!
The next valid signal popped up towards the end of the week, just when the rally fizzled out.Fortunately for this short play, USD/JPY tumbled sharply soon after, chalking up another win for the week.
With that, the pair was able to close out with a 29-pip gain:
GBP/JPY was on a steady climb throughout the week, but it still caught some short plays on quick dips.
The first valid signal was a bearish one that was able to reach its PT before the pair pulled higher.
The next signal was another bearish one, but unfortunately this didn’t dip low enough to hit its target before reversing higher.
The next couple of plays were long positions that managed to bank on the ongoing bullish trend.
The wins made up for the small loss, allowing Guppy to end up with a 59-pip gain for the week:
This brings the Inside Bar Momentum Strategy 2.0 up by 88 pips for the week, adding to previous wins.
The percentage win/loss depends on how position sizes are calculated.
ICYMI, see how the numbers added up for Q3 2021.