Got a bunch of fresh signals on this mech system and a decent win!
Take a look at how the pips added up.
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 long position left open from the earlier update, and it managed to catch some pips at the middle band. The rest of the position was closed at the adjusted stop loss.The pair was moving sideways for the most part of the week, but it only caught one test of the bottom Bollinger Band.
This turned out to be a pretty good signal, as price climbed to the initial target then eventually hit the opposite band as well!
This was enough to let USD/CAD close out with a 51-pip gain for the week:
Meanwhile, CAD/CHF had a short position early on that bagged a few pips on the first profit target.It snagged another fresh signal, this time on a test of the bottom band right before a steady selloff.
As you’ve probably guessed, this tumbled all the way down to the stop loss, resulting in a 50-pip loss for the pair.
With that, the Short-Term Bollinger Reversion Strategy wound up with a 26-pip gain or 0.52% win, making up for the earlier loss.
Seen how the numbers turned out for the previous quarter and for the entire 2020 yet?