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It looks like this mech system is off to a running start with a bunch of fresh signals this week!

Has it caught any wins yet?

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 kicked things off with a short signal on a test of the top Bollinger Band.

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

The pair bounced off this resistance and dipped to the middle band to hit the first profit target.

Unfortunately, the pop higher triggered the adjusted stop loss to close the remaining half of the position at entry before price could even make it down to the full target!

Another valid signal materialized, this time on a test of the bottom Bollinger Band. This trade already hit the first target at the middle band, and the rest of the position is still open.

Here’s what USD/CAD has so far:

CAD/CHF got the ball rolling early on with a valid short signal right when the markets reopened this year.

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

This play made it all the way down to the opposite band, hitting both profit targets and scoring a decent 21.5-pip win.

Before the end of the week, CAD/CHF caught another signal on a test of the bottom Bollinger Band.

This also hit the first target at the middle band, but the rest of the position was closed at entry on the dip that followed.

Here’s how it all turned out:

The pair was able to close out with a 28-pip or 0.56% gain for the week, bringing the Short-Term Bollinger Reversion strategy up by 36 pips or 0.72% so far this month.

Seen how the numbers turned out for Q4 2020 yet?