Got fewer than usual signals on this mech system again, but that didn’t stop it from being profitable. Check out these plays!
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 finally generated a valid signal as it tested the top band while RSI was turning lower from the overbought zone.Price tumbled straight to the first profit target at the middle band then went further down. Unfortunately, it didn’t dip low enough to test the opposite band, so the full target wasn’t reached.
With that, the rest of the position had to be closed at the adjusted stop loss to entry. Still, it was able to lock in a decent 18-pip or 0.36% win, so I ain’t complainin’!
Meanwhile, CAD/CHF had a short play left open in the earlier update, and this one dipped as low as the middle band only.
Another valid signal popped up on a test of the lower Bollinger band, and this also hit the first target at the middle band. Unfortunately this occurred at a price slightly lower than entry.
Here’s how the recent plays went:
With that, the system was able to close out with a decent 38-pip or 0.76% win for the week. Not bad, huh?