Just the one valid signal for this mechanical trading system so far this year! Read on to see which pair caught a trade and how it’s going so far.
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 moved mostly sideways at the start of the year but it didn’t really generate any valid signals off the band bounces.
It wasn’t until the middle of this week that a valid short signal popped up on a test of the top band while RSI turned south from the overbought region.
CAD/CHF was also moving sideways for the past few days, even bouncing off the bottom band in few instances but failing to generate any signals.With that, the Short-Term Bollinger Reversion Strategy hasn’t really chalked up any wins or losses so far, but it does have one position open on USD/CAD.