Both USD/CAD and CAD/CHF have been rangebound for the week, so some positions hit their full targets.
See how the latest signals turned 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 off to a quick start, as it caught a valid short signal early on in the week.This went on to hit the first target at the middle band, then carried on with its slide all the way down to the full PT at the opposite band.
Another valid signal popped up right here, and the long play was able to snag a few pips at the middle band before the rest of the position was closed at entry.
Here’s how USD/CAD’s gains are looking:
Meanwhile, CAD/CHF had a short position left open from the earlier update, and this also went on to reach the full target at the opposite Bollinger Band.Just like USD/CAD it caught a long signal soon after, and this also caught a few pips before hitting an early exit.
Still, this pair chalked up pretty solid gains as well!
With that, the Short-Term Bollinger Reversion Strategy bagged 62 pips for USD/CAD and 47.5 pips for CAD/CHF, for a total of 109.5 pips or 2.19% this week.
Seen how the numbers turned out for Q1 2021 yet?