It was another range-bound week for the pairs I’m watching, but did this mech system catch any signals? Read on to find 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 quite a few bounces off the top band and moved sideways for the most part of the week, but it didn’t really generate valid signals.
CAD/CHF had a long signal on a test of the lower band, and this position hit the first target at the middle band. Unfortunately, the remaining half-position didn’t make it all the way up to the opposite band to clinch the full target.
With that, the rest of the position was closed at entry. Another valid signal popped up late in the week, and this one is still open for now.