After yet another signal-free week, this mechanical system caught one position each for USD/CAD and CAD/CHF. Did it score wins?
In this revised version of the Short-Term Bollinger Reversion Strategy, I’m waiting for RSI to cross above or below oversold or overbought levels to indicate a bit more momentum in the direction of the trade. Make sure you review the tweaks here!
USD/CAD continued its sideways price action but in a bigger range compared to the one in my earlier update. This time it was able to snag a short position from the bounce off the top, but missed the test of the bottom band just by a hairline.
Here’s how the signal turned out:
CAD/CHF had a long position and also missed the profit target at the top band.
And here’s how it ended up:
And that’s a 44-pip or 0.88% gain for the Short-Term Bollinger Reversion Strategy! That marks yet another positive week for the mech system after its strong start in April.