Another slow week for this mechanical trading system as it snagged a sole signal with CAD/CHF. Did it turn out a winner at least?
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 top band more than a few times but RSI didn’t reach the overbought zone and turn back lower at the same time, failing to generate any valid signals. The range became tighter as the days went on, so a big move might be due sooner or later.
CAD/CHF caught a signal but didn’t land pips in the earlier update, but this time it was able to generate some gains.
The pair managed to make it to the middle of the band and even the opposite one actually, but the adjusted stop to entry was already hit before then.
So this mech system ends the week with a measly 8.5-pip gain or a 0.17% win on the account. Not complaining, though! At least it wasn’t a loss, but I do hope it scores larger gains next time.