This mechanical trading system pocketed gains from the other week’s open positions. Check out how many pips it made!
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 short play left open in the earlier update, and this one made it to the middle band to lock in gains on half the position. However, the remaining half had to be closed at break even when the pair rallied back up.
Another short position was opened later on, and this one hit the first profit target at the middle band, too.
With that, USD/CAD bagged 12.5 pips or 0.25% on the account. Even though the gains weren’t all that impressive, a win is a win!
Meanwhile, CAD/CHF had a short position from the previous week, and this already locked in some gains at the middle band then.
Price pulled up a bit but eventually resumed its slide to the bottom band, hitting the full profit target. Here’s how it’s looking: