It’s a pretty slow week for this mech system, but it still managed to catch some gains.
See how many pips it made!
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 caught a valid short signal early on in the week, just before the pair slowly moved lower to hit the first target at the middle band.
Price continued to slide down, but unfortunately it didn’t make all the way to the opposite band to hit the full PT.
Instead, USD/CAD crawled back up later in the week to close the remaining half position at entry.With that, the pair wound up with a meager 2-pip gain or 0.04% win for the week.
Meanwhile, CAD/CHF was bouncing off the bottom Bollinger Band early in the week, but it didn’t catch any valid signals since RSI wasn’t reaching the oversold region then.
The pair eventually made it to the top band, but it still didn’t catch any valid signals for the rest of the week.
This leaves the Short-Term Bollinger Reversion Strategy up by a measly 2 pips or 0.04% for the week, adding to earlier wins but not by much.
Seen how the numbers turned out for Q3 2021 yet?