This mechanical system caught just the one signal for the week! Did it turn out a winner at least? 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 good run the other week, but it was unable to generate any valid signals this time, even though price was moving mostly sideways.
Meanwhile, CAD/CHF was able to pick up on a valid signal on a test of the bottom band.
Price fell short of reaching the middle band on the first bounce, but it eventually made it there to lock in a few pips and have the stop adjusted to entry.
Here are the numbers:
Still not that impressive, I know! But hey, a win is a win, right?With that, the Short-Term Bollinger Reversion Strategy bagged 5 pips or 0.10% for the week. This pales in comparison to earlier gains, but this robot ain’t complaining!