Mech System Replace: Inside Bar Momentum Technique 2.0 (Oct. 16 – 22)

USD/JPY caught greater than its typical share of alerts whereas GBP/JPY had just one legitimate play for the week.

How did these positions prove?

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 dimension 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 had an extended place left open within the earlier replace, and this was capable of financial institution on bullish momentum at first of this week.

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

This was adopted by 4 extra legitimate performs, even because the pair moved sideways for essentially the most half.

Due to these ranging circumstances, USD/JPY snagged three consecutive losses. Because it turned out, the stops on these have been too shut by that the positions have been closed shortly on pullbacks.

Fortuitously, the final sign turned out to be a worthwhile one and managed to make up for among the losses.

Right here’s how the alerts fared:

GBP/JPY had just one legitimate sign for the week, because it caught a brief play in direction of the highest of the rally.

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

Much less is extra for this one, although!

The brief place was capable of revenue from the short selloff that occurred, catching 35 pips for this pair.

This brings the Inside Bar Momentum Strategy 2.0 up by 44 pips for the week, including to the profits from earlier this month.

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

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

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