This mechanical trading system scored all wins for the pairs I’m watching! Check out how many pips it was able to bag this week.
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 short position left open in the earlier update, and this managed to score some pips when it reached the middle band. The rest of the position was closed at entry when price popped back up.
Another valid short signal came up later in the week, and this one also hit the first target at the middle band.
Here’s how these turned out:
CAD/CHF also had a short position left open in the previous update, and this one went all the way down to its full target at the opposite band.
A new short position was opened before the end of the week, and this one’s still open for now.
Here’s how it went:
That’s a total of 59.5 pips or 1.19% for the week, adding to the previous week’s gains!