You win some, you lose some! While CAD/CHF had a positive week, USD/CAD didn’t fare so well. Here are the latest positions.
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 snagged one short signal after another, with the first one getting closed early for a small loss and the other hitting the full stop.
Here’s how the positions turned out.
CAD/CHF had a long position left open in the earlier update, and this one already hit the first target at the middle band. The remaining half was closed at breakeven when the pair retreated.
Another long signal popped up later on, and price quickly spiked to the middle band to hit the first target. The remaining half was also closed at entry, scoring a measly 2-pip win for the position.
Unfortunately, USD/CAD ate up these gains with its 84-pip or 1.68% loss for the week. This yielded a 54-pip dent or a 1.08% loss on the account overall. Bah!