Was this mechanical trading system able to follow through on the big wins from the earlier update? 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 had a new long signal as price dipped to the bottom Bollinger Band while RSI was in the oversold region.
Price went on to hit the middle band, closing out the first half position with a few pips. It gained a bit more momentum higher but failed to hit the opposite band.
Yep, the position is still open since it has yet to hit the adjusted stop loss or generate a new signal.
Now here’s how CAD/CHF is looking:
Nope, no new signals on this one!
Quite a slow week for this system, huh? Still, it’s holding on to at least 22.5 pips or a 0.45% win on the USD/CAD long play, so I’m gonna count this as a positive week. The final figure on that position is yet to be determined, depending on where the pair goes from here.