Mech System Update: Inside Bar Momentum Strategy 2.0 (May 15 – 22)

Mech System Update: Inside Bar Momentum Strategy 2.0 (May 15 – 22)

Just the usual handful of valid signals on this trading strategy for the week! A couple of these plays turned out to be winners.

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.

First up, here’s what went on with USD/JPY:

USD/JPY 1-hour Forex Chart
USD/JPY 1-hour Forex Chart

This pair had a single valid signal for the week, and this long play had its entry triggered almost immediately.

From there, bullish momentum picked up and lasted well enough to take price all the way up to the profit target.

With that, USD/JPY was able to score a decent 15-pip gain on the long position. Here are the entry and exit levels:

Mech System Update: Inside Bar Momentum Strategy 2.0 (May 15 – 22)

Now here’s what went on with Guppy:

GBP/JPY 4-hour Forex Chart
GBP/JPY 4-hour Forex Chart

This pair managed to catch two valid signals for the week again!

The first one was a long position that gained enough upside traction to hit its profit target, scoring a 68-pip win.

The next one was a short play that unfortunately didn’t reach the target before price pulled up to the stop loss, resulting in a 34-pip dent.

All in all, GBP/JPY was able to get by with a 34-pip gain for the week. Here are the entries and exits:

Mech System Update: Inside Bar Momentum Strategy 2.0 (May 15 – 22)

With that, the Inside Bar Momentum Strategy was able to finish off with a 49-pip gain for the week. Not bad, eh?

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This is enough to make up from the losses in the earlier update. The percentage win/loss depends on how position sizes are calculated.

ICYMI, check out how the Inside Bar Momentum Strategy fared for Q1 2020 and how other mech systems are stacking up in Forex Ninja’s Systems Showcase!

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