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No new signals on USD/CAD but got a few ones on CAD/CHF. Was the strategy able to end up in the green overall?

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 didn’t really show any new signals for the week, as the bands squeezed tight and hinted of a potential breakout looming.

USD/CAD 1-hour Forex Chart
USD/CAD 1-hour Forex Chart

Fortunately CAD/CHF had a wider range going, enough to trigger short and long signals that reached the opposite ends of the bands.

CAD/CHF 1-hour Forex Chart
CAD/CHF 1-hour Forex Chart

The pair had a short position left on the earlier update, and this had to be closed on a new Bollinger band test. Here’s how the signals turned out.

It was a rough start but it managed to make up for the initial loss with a decent win, then follow it up with a huge gain on the long position.

All in all, the strategy was able to snag an 83-pip win or a 1.66% gain on the account. Pretty good for a week’s worth of trades, huh?

ICYMI, check out its Q2 2018 performance and how other strategies are faring in the latest Forex Systems Showdown!