It was a bit of a slow week for both pairs I’m watching on this mech system, but they still managed to catch some valid plays.
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 followed through on its short signal but only until the first profit target at the middle band.
No other signals popped up in the days that followed, even though the pair kept bouncing off the top and bottom bands.
Here’s how the latest position turned out:
Meanwhile CAD/CHF had a valid long signal at the test of the bottom band, but this didn’t turn out well at all.
Here’s the damage:last week’s gains. Bah!