No new signals for this mechanical system this week, but an earlier position was closed out.
Did it catch pips or not? Read on to find out!
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 had a signal-free run in the earlier update, and it chalked up another quiet week this time.The pair actually made a lot of bounces off the top and bottom Bollinger Bands while moving sideways.
Too bad RSI didn’t reach the overbought or oversold areas then!
CAD/CHF had a short position left open from the previous week, but it didn’t gain much bearish traction.Instead price carried on with its climb and hit the full stop loss. Ouch!
With that, the Short-Term Bollinger Reversion Strategy resumed its losing streak as it snagged a 50-pip or 1% loss on CAD/CHF.
Seen how the numbers turned out for the previous quarter and for the entire 2020 yet?