Both pairs I’m watching on this mech system caught decent signals for the week and ended up with pretty good wins. Take a look!
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 couple of valid short signals that popped up on tests of the upper band. Both hit their first targets at the middle band before the remaining positions were closed at breakeven.
Here’s how those plays turned out:
CAD/CHF had a long position left open in the previous update. This also hit its first target at the middle band but the rest of the position was closed at entry before price eventually hit the opposite band.
A new short signal came up on a test of the top band before a sharp slide that took the pair straight to the bottom band to hit the full target.
Here’s how it went:
That’s a total of 49 pips or 0.98% for the week, adding to the previous week’s gains!