This mech system caught a handful of signals on both USD/CAD and CAD/CHF, and two positions hit their full targets.
See how the latest positions 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 had a signal-free run in the past couple of weeks, but this time it finally caught some valid plays.The first position was a long play off a bounce from the bottom Bollinger Band, and this one hit the first target at the middle band.
Unfortunately, it snagged a tiny loss since the closing price was slightly lower than entry.
Fortunately, the next position was a short play that was able to hit the full profit target at the opposite band. Another long position was opened immediately, and this one is still open.
Here’s how USD/CAD’s positions turned out:
This one fared quite well, as CAD/CHF resumed the climb back to the full profit target at the top band.
With that, the pair was able to bag 24 pips or 0.48% in gains for the week.
This puts the Short-Term Bollinger Reversion Strategy up by 56 pips or 1.12% for the week.
Seen how the numbers turned out for Q1 2021 yet?