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This mechanical system caught only one valid signal for the week. Read on to find out how this sole position turned out!

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 sideways throughout the week, testing the top and bottom bands in a few instances but failing to generate any valid signals.

USD/CAD 1-hour Forex Chart
USD/CAD 1-hour Forex Chart

RSI wasn’t really indicating overdone conditions during the tests of resistance or support, so this pair just had a signal-free run.

Meanwhile, CAD/CHF was stuck in a tight range early on but didn’t catch any new signals until the middle of the week.

Unfortunately the pair broke out of consolidation soon after and continued to climb.

CAD/CHF 1-hour Forex Chart
CAD/CHF 1-hour Forex Chart

Price went on to hit the full stop loss on the rally, resulting in a 50-pip or 1% loss for the system.

That’s back-to-back losses for the Short-Term Bollinger Reversion Strategy this quarter!

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!