CAD/CHF caught a few more valid signals this week, racking up more pips for this strategy. See the latest gains right here!
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 made several bounces off the top and bottom Bollinger Bands throughout the entire week.Unfortunately none of these generated valid long or short signals since RSI really didn’t reach the oversold or overbought levels then.
Meanwhile, CAD/CHF had a long position left open from the earlier update. This already had the first half closed at the middle band, then the remaining half had to be closed at the adjusted stop loss to entry.A short signal popped up on a test of the top band around the middle oft he week, and this went on to hit both profit targets. Woot woot!
Another short signal came up soon after, and price dipped to the first target at the middle band. The remaining half of the position was closed at the entry price on the spike higher, though.
Here’s how many pips the pair was able to catch:
With that, the Short-Term Bollinger Reversion strategy ended up with a 31.5-pip or 0.63% gain for the week, making up for earlier losses.
Seen how the numbers turned out for Q3 2020 yet?