It was a pretty good run for this mechanical trading system as a couple of positions hit their full profit targets. Here’s what went on.
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 a long position left open in the previous update, and this one crawled up to the middle band and eventually the top band to score a full win.
Price went on to make a few bounces off the lower Bollinger Band but didn’t really generate long signals.
Here’s how the position fared:
Meanwhile CAD/CHF had a short position left open earlier on and this made it all the way down to its target, too.
A long position was opened right after, and this one has made it to the first target so far.
Here’s how it’s looking:
All in all, the system was able to bag 80.5 pips or a 1.61% gain on the account. Not bad for a week, eh?