This strategy saw a bunch of inside bar patterns but only three valid signals were triggered for the week. See how these positions turned 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.
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:
This pair had a few inside bar patterns early in the week, but it wasn’t able to open a position on a valid signal until the middle.
A short play was taken right before bearish momentum picked up over the next couple of days.
Fortunately, this was enough to make it all the way down to the profit target without hitting any snags!
Here’s how the sole position on USD/JPY fared:
With that, USD/JPY was able to walk away with a 23-pip gain for the week.
Now here’s what went on with Guppy:
This pair managed to catch two valid signals for the week again while other inside bars didn’t have their entries triggered or were canceled out by new patterns.
Here’s how the opened positions turned out:
Unlike in the previous week, the pair was unable to catch back-to-back wins this time.
The first play bagged 7 pips as it had to be closed when a new inside bar pattern formed.
The next one lost 61 pips even as the pair did gain downside traction after the short position was opened. Unfortunately, price didn’t dip low enough to hit the target, forcing it to return all those gains and eventually hit the stop.
All in all, the Inside Bar Momentum Strategy lost 31 pips for the week. Ouch!
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!
Roz has been engaged in the financial markets since 2017, specializing in Foreign Exchange, Before joining to FOREX IN WORLD she start to learn forex trading related information.