Was this mech system able to extend its winning streak? Both pairs caught a good number of valid signals for the week, so check ’em 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 long position left open from the previous week, and this hit its first target at the middle band. The remaining half was closed at breakeven when the pair dipped back to its entry price.
A short position followed later in the week, but this was closed early when another valid sell signal popped up. This second one fared much better as the pair slid all the way down to hit the full target at the opposite band.
A long position was then opened, and this one almost immediately hit its first target before the rest was closed at entry.
Here’s how the positions turned out:
CAD/CHF had a short position from the earlier update, and this hit its first target at the middle band. The rest of the position was closed at the adjusted stop loss at the entry price.
Another short position was opened later on, and this also reached its first target before getting stopped out at breakeven.
Here’s how it went:
With that, the Short-Term Bollinger Reversion Strategy chalked up an 8-pip or 0.16% gain on CAD/CHF and a 38.5-pip or 0.77% win on USD/CAD.
That’s a total of 46.5 pips or 0.93% for the week, adding once again to the previous week’s gains and keeping its winning streak up!
Have you seen how the numbers turned out for Q4 2019 yet? Oh, and don’t forget to check out Forex Ninja’s Systems Showcase in case you missed it!