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This strategy picked up on a couple of valid signals this time! Read on to see how the positions fared.

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 signal that popped up early in the week, and the pair moved mostly sideways afterward.

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

Price hit the first target at the middle band, but unfortunately, this was slightly lower than the entry price.

The rest of the position had to be closed at the adjusted stop at entry.

A short signal soon popped up on the test of the top Bollinger band, and this position is still open for now.

Here’s how the plays are looking:

Meanwhile, CAD/CHF bounced off the opposite bands but didn’t really catch any valid signals.

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

It’s just too bad the currency pair missed out on that big drop since RSI didn’t reach the overbought zone during the test of the top band!

With that, the Short-Term Bollinger Reversion strategy wound up with a 5-pip or 0.10% loss for the week, adding to earlier losses.

Seen how the numbers turned out for Q3 2020 yet?