You win some, you lose some! This strategy caught a couple of big wins but also snagged a loss this week.
Did it close out positive?
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 was rangebound throughout the week, but it missed out on a bounce off the bottom band early on.
Unfortunately, price edged higher to hit the stop loss before downside momentum took hold. With that, USD/CAD wound up with a 50-pip or 1.00% loss.
CAD/CHF caught a valid short play early on, and this hit the first target at the middle band after consolidating briefly.
Another short signal popped up later on, but the pair carried on with its climb and eventually hit the stop loss.
Here’s how it all turned out:
The pair wound up with a 29-pip or 0.58% loss for the week, bringing the Short-Term Bollinger Reversion strategy down by 79 pips or 1.58%.
So much for a strong start this 2021!
Seen how the numbers turned out for the previous quarter and for the entire 2020 yet?