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It was a slow run for this strategy since it caught only two new signals for the week.

Did the latest positions catch some gains at least?

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 trending lower for almost the entire week and didn’t really generate any new signals on tests of the lower band… which is great!

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

Had the pair snagged any long signals on those bounces, it would’ve racked up at least a couple of losing positions.

Thank goodness RSI didn’t dip to the oversold region then!

CAD/CHF had a short position left open from the earlier update, and this one had to be closed early when another signal popped up.

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

This short position managed to reach the first target at the middle band, but it only bagged a measly half-pip since the remaining half had to be closed at entry.

A long signal came up later in the week, and this one is still open.

Here’s how this pair’s positions turned out:


With that, the Short-Term Bollinger Reversion strategy wound up with a 14.5-pip or 0.29% loss for the week, adding to earlier losses again.

Not really the best start for 2021, huh?

Seen how the numbers turned out for the previous quarter and for the entire 2020 yet?