It’s a signal-free week for one of the pairs I’m watching while the other snagged a few early exits.
Did the system end up in the black?
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 hit the ground running with a short position early on, but unfortunately this got stopped out since the pair just kept climbing.
Another short position was opened on a test of the top Bollinger Band, but this was closed early when another valid short signal followed.Fortunately this short play finally caught a good move, as USD/CAD tumbled back to the first target at the middle band then eventually the full PT at the opposite band. Woot woot!
This was more than enough to make up for the first couple of losing positions:
Meanwhile, CAD/CHF bounced off the top and bottom bands but didn’t catch any new signals throughout the week.
With that, the Short-Term Bollinger Reversion Strategy closed out with a 64-pip or 1.28% gain, thanks to the big win on USD/CAD.
That’s another week to add to this system’s winning streak!
Seen how the numbers turned out for Q1 2021 yet?