Both USD/CAD and CAD/CHF made plenty of bounces off the bands, but did they catch any signals? Or any pips?
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 made big moves early in the week then settled in a tight range around the bottom half of the bands. No new signals here, but it looks like a big break might be brewing!
CAD/CHF was also hovering around the bottom half of the Bollinger Bands for the most part of the week. It made some pretty good bounces but didn’t really catch a valid long signal either.And that leaves the mech system with no signals at all for the week. I can’t say I’m disappointed, though, since some of those bounces would’ve likely caught losses anyway.