We’ve got big moves off the Loonie pairs in the past week, but did this strategy catch any big wins? Here’s the latest update!
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 was stuck in a tiny range early on but didn’t really generate any fresh signals.
Price made a huge gap up over the weekend and tested the top band a few times, but the pair still didn’t get any new signals.
Meanwhile, CAD/CHF had a valid buy signal on a test of the lower band, but this didn’t stay open for very long as it was stopped out at the start of the trading week.A new long position was opened on another test of the bottom Bollinger Band, and this one fared much better as it hit the first target at the middle band.
The remaining half had to be closed at break even when price hit the adjusted stop loss at entry. Still pretty happy with the gains, though!
Here’s how the positions turned out:previous set of losses. Bah!