No signals on USD/CAD, but the earlier one on CAD/CHF hit its full target! Here’s how the latest positions on this mech system fared.
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 bounced off the upper band more than a few times but RSI didn’t really make it up to the overbought zone and turn down to generate signals.
CAD/CHF had a short position left open from the earlier update, and this one went all the way down to the opposite band to hit its full PT!
Price consolidated in a tight range early in the week but still managed to chalk up a couple more signals on the bounces. Here’s how these turned out:
This pair snagged a teensy win on the long position, although this might be a close call depending on the spread. The next one was a small win, too, yielding a total of 0.94% or 47 pips for the pair and the system overall.