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A couple of positions were left open since the previous update, and it looks like things are looking up for this strategy. Read on to see what I mean.

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 position left open, with price already hitting the first target earlier on and with the stop adjusted to entry.

USD/CAD 1-hour Forex Chart
USD/CAD 1-hour Forex Chart

Price pulled up a bit but not enough to hit the adjusted stop loss at entry, keeping the position open until the pair hit the opposite band on the weekend gap.

Woot woot! That’s a pretty big win on USD/CAD!

Now here’s how CAD/CHF is looking:

CAD/CHF 1-hour Forex Chart
CAD/CHF 1-hour Forex Chart

The long position from earlier on hit the first exit at the middle band for a small loss, but the second half was closed early at breakeven.

A short signal soon materialized at the top band and price went all the way to the opposite band, too!

Thank goodness a decent win on the second position made up for the earlier loss. That brings CAD/CHF up 55.5 pips or 1.11% while USD/CAD is looking at an impressive 101-pip gain or 2.02% win.

Overall, the mech system is up 156.5 pips or 3.13% for the week. That just might be its best run yet!

ICYMI, check out its Q3 2018 performance and if the other forex mechanical strategies fared better in the latest Forex Systems Showcase.