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Mech System Update: Inside Bar Momentum Strategy 2.0 (Sept. 24 – Oct. 1)

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It’s the last week for this quarter, fellas!

Did this mechanical system round up another set of wins to add to its Q3 numbers?

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 had three valid signals for the week.

USD/JPY 4-hour Forex Chart
USD/JPY 4-hour Forex Chart

All three were long positions that tried to get a piece of the ongoing uptrend.

The first one had a pretty short initial candlestick, so the exit levels were a bit tight. This led to the position being stopped out pretty quickly before bullish traction could pick up.

The next play fared much better, as it was able to climb up to the profit target to score some pips.

Unfortunately, the last position also wound up getting stopped out before the rally even took place.

With that, USD/JPY wound up with a 14-pip loss for the week:

GBP/JPY was trending higher during the first half of the week, and it saw some inside bar patterns forming. However, none of these had their entries triggered.

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

It wasn’t until the second half of the week when price reversed course lower that Guppy was able to catch a valid short play.

Price gained some bearish momentum afterwards, but it wasn’t enough to make it all the way down to the target.

Too bad the short play got stopped out on that spike higher!

This brings the Inside Bar Momentum Strategy 2.0 down by 65 pips for the week, erasing some of last week’s gains.

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

Gonna crunch the numbers for Q3 soon, so stay tuned!

ICYMI, see how the numbers added up for Q2 2021.

The Blogger Scientist is a "Medical Physiologist" and a "Financial Asset" Content Creator who aims at enlightening web reader on varying Financial Assets such as Stocks, FX, Crypto, MLM,. HYIP among others.

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