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I’m seeing plenty of bounces off the Bollinger Bands, but this system didn’t catch any signals at all! Should I be making adjustments with the rules?

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.

I can spot at least three nice bounces off the opposite bands on USD/CAD for the past few days, but none of these were able to generate valid signals as RSI didn’t really turn up or down from the overdone levels at the same time.

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

It’s the same story on CAD/CHF as the pair also tossed and turned between the lower and upper Bollinger Bands but wasn’t able to open new trades.

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

Come to think of it, this should’ve been the ideal environment for the Short-Term Bollinger Reversion Strategy 2.0 to grab some pips since the market was ranging. Think I should look into adjusting the RSI rules?

Of course one signal-free week isn’t enough to warrant a complete overhaul, but I can’t help wish that the system was able to hop in on those nearly end-to-end moves.

With one month left in this quarter, do you think this system can pull off a strong run like it did in Q4 2018?