It was a bit of a slow week for this mech system as it caught only one signal per pair. The question is: Did these positions snag any pips?
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 signal-free run the other week, but the recent one was a bit more fruitful as the pair caught a valid short play on a bounce off the top band.
Price has yet to hit the middle band to lock in some pips and have the stop adjusted to break even.
CAD/CHF was trending higher for the most part of the week, before it hit the top band to open a short position. Price already reached the first profit target at the middle band to bag some pips and have a risk-free remaining half-position.
Here’s how it’s looking: