I’m seeing a lot of sideways action on USD/CAD and CAD/CHF these days, but did this strategy catch any wins? Take a look!
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 made a lot of bounces off the opposite Bollinger bands but RSI didn’t quite make it to overdone levels then, so no new signals were generated.
CAD/CHF also paced back and forth between the bands, even making it to the opposite end in some cases. Unfortunately, RSI didn’t reach overbought or oversold levels either, so no new signals popped up. *sad tuba*
And that concludes my quick update for a signal-free week for both pairs on this strategy, quite disappointing for a range-bound system actually. Then again, those were relatively tight moves that probably won’t make much sense in terms of R:R.