Partner Center Find a Broker

Got a couple of valid signals each for the pairs I’m watching on this strategy. See how many pips the system scored!

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 moved sideways at the start of the week then caught a valid short signal on a test of the top band.

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

Price went on to slide back to the middle band, locking in gains on the first target for half the position.

The pair didn’t make it all the way down to the full target at the opposite band. Instead, it climbed back up and hit the adjusted stop loss at entry.

A fresh short signal was generated on another test of the top band while RSI moved down from the overbought area.

Here’s how it’s looking:

Meanwhile, CAD/CHF was also consolidating for the most part of the week, but it was only during the latter half that it caught a valid signal.

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

A short position was opened on a test of the top Bollinger Band while RSI headed south from the overbought region.

The pair dipped to the middle band to close half the position at the initial target then bounced slightly. Price went on to drop until the bottom band to score a full win. Woot woot!

A new long signal came up on a test of the bottom band, and this position is still open.

With that, the Short-Term Bollinger Reversion strategy wound up with a 40-pip or 0.80% gain for the week, adding to earlier wins.

Seen how the numbers turned out for Q3 2020 yet?