Indeed its a very nice strategy but we can not use it on news time. as we can see in above image that after hitting tp(middle bollinger) at about 0.8870 the price still continued to climb and at price 0.8875 we get a sell signal as price touched upper bollinger band.So if you enter there than the price will go against you and the result will be in case of loss.
So the thing is how to avoid this?
Ans Is simple. When the price touches the bollinger band than wait for the next candle if it is opposite to the first one than enter the trade otherwise don't.
Here you can see.
See Enter at the red arrows(Sorry for my bad drawing) and don't enter at cross.I don't say it becomes perfect but i think risk is reduced.And the most important thing don't use this strategy in news time.