No signals for USD/CAD, but CAD/CHF caught a couple! The question is, did these result to gains or losses for the system this time?
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 catch any new signals over the past few days as price just came a hairline close to touching the upper band.
CAD/CHF, on the other hand, caught a couple of signals. Unfortunately the first one had to be closed at a loss when the second one popped up.
Fortunately, the second long position was able to hit the first target at the middle of the band and zoom all the way up to the full target at the top band, too!
Because of that, the system capped off back-to-back weekly losses with a neat 30.5-pip gain or a 0.61% win on the account, thanks to a big win on CAD/CHF.