One of the pairs I’m watching on this system scored a couple of wins while the other had a signal-free run. Here are the numbers for the week!
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 hit a small snag in the earlier update then moved mostly sideways in the past few days.The pair tested the top Bollinger Band a few times but didn’t really generate any valid short signals since RSI wasn’t reaching the overbought zone.
USD/CAD eventually broke below consolidation then tested the bottom band once more, but no new signals have popped up yet.
Meanwhile, CAD/CHF was also in a tight range early in the week as it traded at the bottom half of the bands.The pair eventually caught a valid long position, which hit both profit targets at the middle band and opposite band.
From there, another signal popped up and this short play managed to hit the first target at the middle band. The rest of the position had to be closed at break even when the adjusted stop at entry was hit.
Here’s how it all turned out:
Thanks to these gains on CAD/CHF, the Short-term Bollinger Reversion Strategy was able to close out with a 23.5-pip or 0.47% win for the week.
I know it ain’t much like in the previous week, but I’d take these small wins any day! Besides, the system was able to score much bigger gains earlier on, which seem to be enough for a profitable Q2.