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This strategy caught only one valid play for the week, but that didn’t stop it from scoring a pretty impressive win. See how many pips it caught!

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 short play left open in the earlier update, and the pair made a neat bounce off the top band down to the first target at the middle.

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

Bearish momentum didn’t stop there!

USD/CAD carried on with its slide all the way down to the opposite Bollinger band, scoring a full win on this position.

This amounted to a total of 138 pips in gains for the short signal, yielding an impressive 2.76% win. Woot woot!

Meanwhile, CAD/CHF made a few tests of the top and bottom bands but didn’t really generate any valid signals for the week.

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

No wins or losses on this pair then!

With that, the Short-Term Bollinger Reversion Strategy 2.0 ended the week bagging a 138-pip or 2.76% win thanks to the sole short position on USD/CAD.

That’s just enough to make up for part of the previous 3% loss and still a bit behind the jaw-dropping 3.97% gain a few weeks back but still one of its best runs!

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!