USD/CAD had another signal-free week while CAD/CHF closed its earlier position and caught three new ones!
How did it all add up?
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 bounced off the bottom and top bands but didn’t really generate any valid plays since RSI didn’t turn from the overdone levels then.From there, the pair didn’t reach the opposite bands for the rest of the week.
The rest of the position had to be closed at the adjusted stop loss at the entry price.Another valid long signal popped up early in the week, and this was able to reach the full profit target at the top band. Woot woot!
Price was trending higher for the most part of the week, and unfortunately it snagged a couple of short signals on tests of the top Bollinger Band.
The first one was closed for a small loss and the second short position is still open… but not looking good!
This allowed CAD/CHF to close out with a 15.5-pip or 0.31% gain for the week.
I know it ain’t much, but this just might be the first positive week for the Short-Term Bollinger Reversion Strategy this year!
Seen how the numbers turned out for the previous quarter and for the entire 2020 yet?