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It was another slower-than-usual week for this mechanical trading system, but that didn’t stop it from catching one pretty good win!

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 short position to start and it was able to hit the first target at the middle band the next day.

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

The selloff came close to hitting the opposite band earlier this week before price made a pullback close to the adjusted stop loss. However, this position managed to stay open until the second target at the opposite band was reached. Woot woot!

CAD/CHF traded mostly sideways for the week but didn’t really catch any valid entry signals as the bounces off the bands and the RSI dips didn’t line up.

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

With that, this system was able to finish off with a 52.5-pip or 1.05% gain thanks to the winning signal on USD/CAD. I think I’m gonna chalk that one up as a good rebound from the losses in the previous weeks!

Do you think you think this mechanical system is finally on its way to pull off a good finish like it did in Q4 2018? I know, I know… More than a month to go before the end of this quarter, but this robot is really excited!