It’s another week of range-bound action on both pairs I’m watching on this mech system, and it was able to catch more signals this time!
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 bounced off the top band three times throughout the week, and these generated valid short signals.
The first one made it to the middle band and all the way down to the opposite band to score a full win. The next short position still locked in a small win on the first target while the third one hit its stop.
Here’s how these turned out:
Meanwhile CAD/CHF had a short position left open in the earlier update, and it managed to lock in some pips at the middle band. The remaining half was closed at entry.
A valid long signal popped up at the bottom Bollinger Band mid-week, and this one locked in some gains at the first target. The remaining half is still open for now, though.