Even though this strategy was able to catch just one valid signal for the week, it was able to bag pretty impressive gains.
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 signal early on in the week, and this made it to the first profit target at the middle band.
From there, USD/CAD staged quite the rally to the top band but didn’t really catch any new signals since trending conditions came in play.
Here’s how the sole position turned out:
Meanwhile, CAD/CHF was actually range-bound but it didn’t really have any valid signals throughout the week.
With that, the Short-Term Bollinger Reversion strategy wound up with a pretty decent 59.5-pip or 1.19% profit for the week, adding to the other week’s small gains.
Seen how the numbers turned out for Q2 2020 yet?