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I’m seeing plenty of range-bound action on USD/CAD and CAD/CHF for the past week, but did the system catch any valid signals or 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 hovered around the bottom half of its Bollinger Bands but didn’t really catch any long signals off the bounces.

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

Meanwhile CAD/CHF also had a number of bounces from the bands but didn’t really generate a valid signal until the end of the week.

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

This made it to the middle band to hit the first profit target and adjust the stop to entry. Here’s how it’s looking so far:

This yields a 16-pip gain for CAD/CHF so far, as the remaining half is still open. Keeping my fingers crossed that it reaches the full profit target!

Have you seen how the numbers turned out for Q1 2019 yet? Oh, and don’t forget to check out Forex Ninja’s Systems Showcase in case you missed it!