Both pairs caught fresh signals for the week, but were they able to score gains? Read on to find out!
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 trending lower for the most part of the week before catching a valid long signal at the bottom Bollinger Band.The pair bounced back to the middle band to close half of the position for a small gain before retreating back to the adjusted stop loss at entry.
Another valid long signal popped up later in the week, and this also hit the first profit target at the middle band.
Here’s how the numbers added up:
The remaining half of the second long position is still open, but USD/CAD was able to lock in a decent 11-pip or 0.22% gain for the week.
Meanwhile, CAD/CHF was able to catch a short signal early in the week that made it to the full profit target at the opposite band.Later on, another valid short play emerged on a test of the top Bollinger Band, but this one is still open.
Here’s how it’s looking so far:
With this 23.5-pip or 0.47% gain on CAD/CHF plus the winnings on USD/CAD, the system managed to rack up a total of 34.5 pips or 0.69% for the week!