This mech system snagged a handful of valid each for USD/CAD and CAD/CHF, and here’s how those positions turned 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 a long signal on a test of the bottom band, but this didn’t stay open for very long as price bounced right off the middle band to close the rest of the position at break even.
Another set of signals popped up on a test of the middle band, and fortunately the second one yielded a full win as it hit the profit target at the opposite band.
Here’s how it all went down:
That’s a total of 40.5 pips or 0.81% for USD/CAD. Not bad for a week, eh?
Meanwhile, CAD/CHF snagged a loss on on its first position but managed to make up for it with its second one, which hit the initial target at the middle band.
Here are the numbers:
It wasn’t such an impressive run for this one as it only caught 2.5 pips or a 0.05% gain. Still, a win is a win!With that, the Short-Term Bollinger Reversion Strategy bagged 43 pips or 0.86% for the week, much better compared to last week’s teensy gain.