Just one valid signal for this mechanical system for the week! Did it catch any wins at all?
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 tested the bottom band early in the week but hardly gained any upside momentum enough to hit any of the profit targets.Instead the pair carried on with its drop and eventually hit its full stop loss.
Here’s the damage:
Meanwhile, CAD/CHF was rangebound early in the week but didn’t really catch any valid signals.Volatility picked up later on, but the pair still didn’t open any new positions since RSI didn’t reach the overbought zone when price tested the top Bollinger band.
With that, the Short-Term Bollinger Reversion strategy ended up with a 50-pip or 1.00% loss for the week, adding to earlier losses.
Seen how the numbers turned out for Q3 2020 yet?