Got three new signals on this mechanical trading system for the week! Did any of these catch gains?
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 edged lower for the most part of the week, moving between the lower and middle Bollinger Bands.
The pair didn’t have enough upside momentum to take it to the full target at the opposite band, so the remaining half of the position was closed at the adjusted stop loss at the entry price.
Here’s how it turned out:
Meanwhile, CAD/CHF was also trending lower throughout the week and stayed between the bottom and middle bands as well.
Fortunately, the pair didn’t dip low enough to trigger the stop loss, so it was able to stay open until a bounce to the middle band took place. Unfortunately, the trade was closed at a level lower than the entry price, resulting in a tiny loss for CAD/CHF.
Another long signal was generated towards the end of the week, and this one is still open.
With that, the Short-Term Bollinger Reversion Strategy was able to bag a measly 9.5 pips or 0.19% for the week. I know it ain’t as impressive compared to the earlier gains, but I’ll take these wins!
So far so good for this mech system this quarter still!
Have you seen how the numbers turned out for Q2 2020 yet? Oh, and don’t forget to check out Forex Ninja’s Systems Showcase in case you missed it!