It was a signal-free week for CAD/CHF while USD/CAD managed to catch a handful of valid plays. Here’s how those turned out.
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 on a test of the upper Bollinger Band. Price eventually hit the first target at the middle band, but the second half had to be closed when price pulled back up to entry.
A long position was opened on a test of the bottom band later on, then this had to be closed when another valid one popped up. This zoomed up to the first target and eventually straight up to the full target. Woot woot!
Here’s how these turned out:
Meanwhile CAD/CHF had no valid signals at all, even though price bounced off the bottom and top bands a few times.This leaves the mech system with a total of 55 pips or a 1.10% gain on the account, thanks to all the positions on USD/CAD. Not bad, eh?