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It’s been a busy week for this mechanical trading system as the pairs I’m watching caught three signals each. Did they score any wins?

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 long position left open from the earlier update, and this one managed to pull up to the middle band to hit the first target. Unfortunately, price dipped back to hit the adjusted stop at entry before climbing to the opposite band.

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

Another long position was opened a few days later, and this also hit the middle band to score more pips on the first target then had the second half closed at breakeven. The third long position is still open for now.

CAD/CHF got a long signal on a bounce off the bottom band until the middle, where the first target was hit. This just scored a few measly pips before the rest of the position was closed at entry.

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

A short signal soon materialized at the test of the upper band, and this went all the way down to the full target at the opposite band before a new signal popped up. Here’s how the positions turned out:

With that, the Short-Term Bollinger Reversion Strategy 2.0 wound up with a 39.5-pip or 0.79% win on CAD/CHF, plus a 13-pip or 0.26% gain on USD/CAD. This amounts to a 52.5-pip or 1.05% win for the week. Not bad!

With just a week left in this quarter, do you think this system can pull off a strong run like it did in Q4 2018? Oh, and don’t forget to check out Forex Ninja’s Systems Showcase in case you missed it!