Got one signal each for USD/CAD and CAD/CHF on this mechanical trading system again, but I can tell you these fared much better than before!
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 one short signal after another as price tested the upper band a couple of times while RSI was in the overbought zone. Fortunately the early exit on the first one happened at exactly the same entry price.
Here’s how it turned out:
CAD/CHF bounced off the bottom band, reached the middle band and eventually the opposite band to hit the full target. Woot woot!
The gains weren’t so huge but after some losing weeks, I will take it!
It churned out roughly the same amount of gains as in USD/CAD, bringing the system total to 72.5 pips or 0.73% for the week. Not bad!