Mech System Replace: Inside Bar Momentum Technique 2.0 (Nov. 12 – 19)

USD/JPY caught one legitimate sign for the week whereas GBP/JPY had three.

Learn on to see how these positions turned out!

If that is the primary time you’re studying about this forex technique, I counsel you check out the system rules earlier than studying on.

Additionally, this model makes use of an adjusted stop loss measurement on each USD/JPY and GBP/JPY.

The scale of the stop loss was adjusted from the unique 20% of the primary candlestick to 40% of its size.

USD/JPY shaped a couple of inside bar patterns early within the week, however none of those had their entries triggered.

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

It wasn’t till the latter half of the week that the pair managed to hop in a sound quick play, which was opened simply earlier than that sharp selloff came about.

This allowed USD/JPY to bag 17 pips on its sole place for the week. Not unhealthy, huh?

GBP/JPY was cruising increased in the course of the first half of the week when it hopped in on a bunch of lengthy performs.

The primary one didn’t keep open for very lengthy, as a brand new inside bar sample shaped and closed the lengthy play at entry.

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

The subsequent one didn’t fare any higher both because it wound up getting stopped out earlier than bullish momentum may even choose up.

Fortuitously the final lengthy place managed to remain within the rally for for much longer, reaching its full goal within the course of.

This profitable play made up for the sooner loss, too!

With that, GBP/JPY additionally ended up with a 17-pip achieve general:

This brings the Inside Bar Momentum Strategy 2.0 up by 34 pips for the week, erasing a few of the earlier losses.

This brings the system again to optimistic territory after it ended its profitable streak final week. Hopefully this marks the beginning of one other good run!

The proportion win/loss relies on how position sizes are calculated.

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

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