Just one signal each for USD/CAD and CAD/CHF on this mechanical trading strategy lately. Were these able to catch pips?
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 had a short signal as price tested the upper Bollinger band then made its way to the middle.
However, the pair wasn’t able to sustain its bearish momentum as it bounced higher from there. Fortunately the stop had already been adjusted to entry, preventing any losses. Here’s how it turned out:
Womp, womp… I know three measly pips or a 0.06% gain ain’t much, but a win is a win!
CAD/CHF snagged a long signal on a bounce off the bottom band, promptly made its way to the middle to hit the first PT but came a few pips short of hitting the full target at the top.
This pair had a slightly better outcome, allowing the system to end with an 11.5-pip or 0.23% gain on the account.