Got a couple of fresh signals for each pair I’m watching on this mech system.
Did it catch any gains so far? 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 was trending lower for the most part of the week, but it still snagged two valid long plays on tests of the bottom band.Both positions were able to bag some pips at the middle band before closing the remaining half at the adjusted stop loss.
This was enough to bag a total of 17 pips or 0.34% for USD/CAD this week. Not bad, huh?
CAD/CHF also generated a couple of signals for the week, as it tested the top Bollinger Band while RSI was turning lower.The first short play didn’t turn out so well, though, as price just carried on with its climb until another signal popped up.
This led to an early exit before a fresh position was opened. Fortunately, this second play was able to score profits.
Unfortunately, the wins were not able to make up for the earlier loss. CAD/CHF wound up with a 23-pip or 0.46% dent for the week.
With that, the Short-Term Bollinger Reversion Strategy wound up with a 6-pip or 0.12% loss, carrying on with its losing streak. Bah!
Seen how the numbers turned out for the previous quarter and for the entire 2020 yet?