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This mechanical system returned some of its strong gains from the other week as it snagged full losses 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 had a long position left open in the earlier update, but this didn’t go so well as the pair kept edging lower before it eventually pulled up.

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

This amounted to a 50-pip or 1% loss on the position as price hit the full stop loss.

From there, USD/CAD didn’t really make any bounces off the top or bottom bands for the most part of the week.

A fresh short signal was generated today, so I’m hoping that this could make up for the earlier loss.

Here’s how the latest numbers look:

Meanwhile, CAD/CHF also had a position left open in the previous update. Unfortunately, price popped up to hit the stop loss just before it tumbled all the way down to reach the middle band and opposite band. Bah!

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

A new long signal came up, but this didn’t fare so well either. Price continued its move lower and eventually hit the stop loss as well.

Here’s how it went:

Argh! Back-to-back full losses on this one!

These amounted to a 100-pip or 2% dent for CAD/CHF. Adding that to the loss on USD/CAD yields a 150-pip or 3% loss for the week for the Short-Term Bollinger Reversion Strategy 2.0.

Fortunately, the other week’s gains were slightly higher at 173 pips or 3.97% so I’m not feeling too bad for now.

Have you seen how the numbers turned out for Q1 2020 yet? Oh, and don’t forget to check out Forex Ninja’s Systems Showcase in case you missed it!