A bit of a slow week again for this mech system as ranges were pretty tight and only one signal popped up. How did it turn out?
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 a few times off the top band but RSI didn’t make it to overdone levels to generate any short signals.
CAD/CHF hit its full PT in the earlier update but volatility slowed in the days that followed. Still, it managed to catch one bounce for a short position.
And here’s how that signal turned out:
This pair snagged a teensy win on this setup, although this might be a close call depending on the spread. Theoretically, this makes for a 6-pip gain or a 0.12% gain on the account assuming 1% risk per position.
ICYMI, check out its Q3 2018 performance and if the other forex mechanical strategies fared better in the latest Forex Systems Showdown.
