A few signals popped up for CAD/CHF and USD/CAD in the latter part of the week, but did these turn out positive? Read on to find 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 caught a couple of signals before the period ended, with one getting closed early in the red when the second bounce took place.
The second short play is doing pretty well, with at least 41 pips locked in when half the position was closed on the first exit at the middle band. I’m hoping it goes all the way down to the opposite band to hit the second exit!
Here’s how CAD/CHF is looking:
A long signal popped up at the bottom of the band, and it’s not looking good so far since price just keeps sliding down.
This one is still open, though, as the pair has yet to hit its stop loss as it heads further south. A turnaround for this one, however, could mean the same for USD/CAD. You win some, you lose some, I suppose.
With that, this mech system ends the week with a 35-pip loss or 0.70% dent on the account because of the early exit on USD/CAD. Not the best of weeks again, but I do hope it recovers soon!